育教信徒,再三第張四第P一廿月十年子壬涵 WAM KIU YAT PO
1973英文中學會考試題預習專欄
BY IN A KI PA TE N
經濟及公共事務科 (五)
Economic & PUBLIC Arrairs
(5)
How far is it true to say that
market structures can affect the
supply of a commodity?
Answer: — The ultimate arm of all producers 1st to maximise their profits. In order to maximise
their profits, the producers have to consider the costs structure.
and market structure of their pro- ducts. From this, it is obvious that market structure can affect To some extent, the decision of supplying products to the market. Some industres exhibit increasing cost of production; some may have constant cost of production; while others exhibit decreasing cost of production. Costs structure is important in affecting the decision making of producers. For example, under decreasing cost of product- ion, the producers will be tempted to produce more because the more..
hey produce the lower will be the average cost
That is not the only determinant affecting supply of a commodity. Froducers have to take into account The market structure in which thet Products are put into. Markets may Joe defined as places where buyings and sellings take place, they may be of no physical existence.. Mar sets can be classified into two,
amely the perfect market and the Imperfect market. Under Perfect Market, there is only one ruling price in the market. Producers. Cant raise the price in antici-. Fatica of a greater profit because,
they raise the price, they W111 have no sale. In order to visualise The importance of market structure in affecting. the supply of a con- modity, it 18 appropriate to under
etand the requirements of the market structures.
The determinants or the market structures are: Fürstly, the degree of concentration which is reflected by the number of sellers. There may be either many sellers or a
ow sellers. For perfect market to exist, there must be many sellers so that there will be no preferen celas from which seller a consume
Secr
egree or produc ation is another facto: Produc in a market may be of th
differ
product homogen differentiated.
same quality eity. It may Under a perf
market, product homogeneity is a necessary condit
Thirdly, the condition of entry also counts. For a perfect market, there must be no barriers to entry otherwise the price in the market will not be of the same level,
astly
extent of consumer ge is important. For a
market, we assume that
rfect consumer know-
coneumers know exactly price and they also
the maz
on which seller they can
ts most cheaply.
requirements
structure have to look fects supply of a com- the amount supplied to
based on profit maximization concept. Under per fect market since there is only one ruling price in the market, the producer will charge at the miling price and produce up to the point where he can match the margina, revenue (income) and the marginal cost. Marginal revenue is the extra revenue added by selling one more unit of the commodity. Marginal cost is the additional cost involved in just producing one more unit of the commodity. If the additional revenue is great -er than the additional cost în- volved in the production of one more unit of a commodity it 18 profitable to produce that one more unit. Accordingly, commɔd151– es are produced up to the point wnen marginal revenue is equival. ent to marginal cost. From this, it 19 clear that market structures Pan affect the supply very much.
製
-LESS •R CEBAY •
「妙何,花妙妍-
發言人又說,
麗儷
•
報日橋
的昨
· 徙置事務處發人阿
· K-BRACES SE 經濟及公共事務等料的軟限用。 一教師,從而增加祂,在未來兩,10年內將不 HKEENINAKK *****NH2-X SE6EU• 笛斯英课,務求達到發爾人就昨日若于一跟酋情而非個別核度渐 |NG-SDEFFEK STESSKTER- FLERESESKE 音樂,使育,国麥以及一會因石英序安在對面他指出:大台學校一 英育和望畫動實。因是一成發爾人昨日表示1石,响的那校,使它們有链、 加強格育,恐會波(事務 亦必及個別通知受老。 一校舍原交由不牟利的
| 等報導江若干天學校
一 珠小珠,陳和,周一到影响,因而引致的一 后:靜瑜,砩5 石硤尾安民計劃而會受
·首屆矗然生名蛛如,將於明年初,因第二期认在較早府會提出要求
| 年,腿美芬,呂婉霞,複在明年受到影响的天.一申請動役一佛藝
·梁燒恩,冬瓜,康商發人晚,惟一可,他們的中精雷杰和 淑英,好鸿躍,李畫冊,中更有不少係超齡兒業因該等學校開辦人 夢思,把小玲,許麗獎一百五十名教師失遠和一般比意與雅的燒盡 喜為馬賽。医瑞盡,林千五百名學童失學,其不能接納他們的要求,
**TOERDER.
台學校,經日在數月的一司彩类离。
紅王,武麗唔戴類選,實不必憂選,將來我們。摹校就讀。
一區其做天合作校,現時一龍往附近的宫成律
,
讀近當
THE
自當蓓助安排他們
不早健在人
干絲:
電殺 申新
真區
學 納 與由經新早份解而 校 他 別於特區時天 們 的 白,分1
如求,校入舍蘡關
2 Why is it justifiable to in- clude entrepreneur as a factor of production?
Answer:- In the early days, econ- onists only regarded land, labour, capital as the factors of product- ion. They had neglected the imen portance of entrepreneur in the field of management. Their argu ment was that both entrepreneur and labour were provided by human efforts, there was not much differ ence in them. People still main- tain this classification until recently. The economists nowadays include entrepreneur ar management as a crucial factor of production.
They have many strong reasons an justifying t the inclusion of entrepreneur, as a factor of pro- duction. Land, capital and labour are passive factors. They are just like raw materials. They do not contribute much to production un- less they are combined in the most efficient way. It calls for the
entrepreneur to make aеcistons as to what-ratios they are combined so as to produce the commodities most efficiently at the lowest possible costs. From this, entre- preneur must be included for it is an active factor. It performs the function of leadership..
Furthermore, the entrepreneur has, to bear all the risks or loss- es. For the labourors, they do not have to worry about the risks and losses. Whether the firm suffers from loss or not does not bother them. Entrepreneurs have to make decisions as to which product they are going to specialise in, or course they must have sound know- ledge of the economic situation around. If their decisions are correct, they will reap greater profits. If not, they have to bear the consequences,
Entrepreneurs must maintain a good relationship with the workers It is important that the workers must satisfy with their working conditions, wages etc, before they can make well use of their effic- Lency. Therefore, entrepreneurs. have to take care of the welfare of the workers. In case of any defects, or complaints, the entre- preneurs must investigate into the matter and put forth remedies to
better the situation.
Again, after the products are produced, the entrepreneurs are responsible for finding the suit- able markets for the products. Should the products be aiming at domestic market or external mar- kets, is another consideration.. Some commodities may be aiming at cheap markets. Some may be aiming at expensive markets. All these are the considerations of the entrepreneur. Last of all, entre- preneurs have complete authority over the organisation. They can make plans relating to the future: of the company.
Based on the above reasons, economists nowadays include entre- preneur as a factor of production Lore reasonably. It is no doubt that management nowadays plays an important role in the production Process of any firm.
QUESTIONS FOR NEXT WEEK.-
Name the benefits derived fr engaging in international trade? How is Hong Kong related to the intemational economic sector?
why is Kwun Tong chosen as a favourable locality for establish
-ing industries?
VERSKEREG
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「校出校教育致
WEFERENCE LIBRARY
26 NOV 1972
日期星 日六廿月一十年二七九一圈公年一十六國民華中
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張刊教 讀第在育
1913英文中學會考試題預習專欄
地理科 (四)
PHYSICAL GEOGRAPHY (4)
MULTIPLE CHOICE REVISION ON ROCKS:
quarta pebbles.
inches
8inamass
The above sketch shows a type of sedimentary rock which occurs în H.K. What type of rock is it? A. A limestone
B. A shale
C. A conglomerate
D. A coarse grained sandstone E. A breccia
2. In which area does this rock, outcrop?
A. Cheung Chau
B. Castle Peak
C. The islands of Mira Bay
D. Patsin area. overlooking Plover
Cove
E. Sai Kung Peninsula
3
orthoclase(Feldspar)
quarkstals
piotite
grey groung
3. The above sketch shows a hand specimen of a type of igneous rock. What type of rock is it? A. A porphyry B. A granite C. A rhyolite
D. A syenite
E. A basalt.
4. Which of the following is the most typical volcanic rock in H.K.? A. Basalt
B. Ash tuft C. Andesite D. Syenite
E. Rhyolite
5. Which of une following rocks is an example of a plutonic rocki A. Breccia
B. Syenite
C. Lava
D. Gneiss
B. Schist:
6. Which of the following 19 RII example of an organically formed sedimentary, rock?
Clay
B. Chalk
Shales Sandstones
D. Slate
7. Which of the following are metamorphic rocks?
Anthracite
II. Carboniferous Limestones III. Marble
Quartzite Slate
A I II III and IV only TI, III, IV and V ozly
III, IV and V only
D. III, IV and V only E. I, IV and V only
8. Which of the following aescrip- tions is true of Hong Kong granite? A. It is a fine-crystalled plut-
onic rock and outcrops over one third of Hong Kong.
B. It is coarse grained rock Tom
ed when magma cools at the surface.
C. It is a coarse grained rock and
the Castle Peak hills are com posed of it made
D. It is a fine-crystalled rock
and outcrops over half of Hone Kong,
2. It is a plutonic rock and forms
the highest ridges of Hong Kong.
(审)上午九時卅分至下午四時,公假期
百學藥
本月廿七日起在该校分發 七一至七二年度之日夜孤各料證實,定廿七日出 音朵蔥跟 (老銀彩理臣山工業學實襬:該校一號校 於下列時間在豫仔愛本道大姚淑崀山工業承校花,此時更似府民無
摩理臣山工業校
日夜班證書待領
校弟子民源
禮業畢合聯
9. Which of the following descrip tions is true of schist, the major
type of metamorphic rocks that occurs in Hong Kong?
A. They have a foliated structure and have been deeply weathered
B. They are formed in waterlogged
conditions where the organic. breakdown of vegetation is in- complete and have rich carbon content.
C. They have been deposited under
erið or semi-arid conditions on the floors of seas and lakes. D. They have been cooled from mol- ten magma within the earth's crust and is fine grained. E. They have been cooled at an
intermediate rate and are com- posed of large crystals and a green or brown coloured crystal -line groundmass.
10. Which of the following desemp
tions are true of Hong Kong põr- phyry?
I. This rock Torns the highest
ridges of Hong Kong. II. This rock occurs at Cape
D'Aquilar and on the rocky peninsula to the south west of Tong Fuk on Lantau. III. This rock occurs in the form
of dykes and sills because they have been formed by molten magma cooling in joints or lines of weakness in the surrounding rock. It is a plutonic rock formed of large crystals of felspar and quartz with a brown or green coloured crystalline groundmass,
This rock is found at great depth below the surface and is exposed after the erosion of the overlying rocks. III and IV only
B. II, III and V only C. III, IV and V only D. I, II and V only
E. I, III and V only
11. White on a field excursion on Cheung Char a surface outcrop of rock with the following character- istics was found:-
I. It was a darker colour than
most of the rock of the island
II. It outcropped from five to twelve yards in width. III. It was a green/grey colour
with large crystals of a white and opaque colour. What kind of rock was the out- crop likely to be?
Conglomerate
B. Basalt
Gneles
C
D. Porphyry
E. Granite
12. Which of the following are volcanic rocks?
1 Rhyolite
II. Basalt
III. Volcanic Ash
IV. Byenite
V
Dolerite
A. I, II and III only
3. I, II, III and Y only
0 III, IV and V only
D. II, III, IV and only B. 1 II and V only
13. What is the term that refers to the metamorphosed zone which may occur between an area of igne- ous plutonic rocks and the over- lying rocks?
A. The outcrop
B. The bedding plane
C. The strata
D. The aureole
E. The shatter zone
Answers: 1. 0 5. B 9. A 13. D
2.00
6. B
10 E
JAR
ROA
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