日二十月四年二八九一厩公年一十七國民華中 育教濟經
NI
一一週金市概况·
·八月期金價升廿七美元。
·四收市價二四六四,全週升一百五十元。 *因假期關係全遇只有三個交易天。九九金
傳出可能會和解的消息·金價降。
·出特遣艦要收復失地,導致局勢迅速恶化,刺激金價急升,在週四由於 由於阿根死突然出兵裝上英國國克戰爭馬,而英樂作出激烈反轉,派
去週由於育霄別及復活郤假期,坐市兒有三個交易天。金價大幅上亦
金價大幅扳升
最低靖二之二三四二,被临一百二十三季...
「八,最低遒二之三六三,波幅十五美元。 .................. 元。過四結算後三七〇。五,至週共計二十七美元,拉商資爲透四之三七
· 金方面,八月期金週二升十九美元,週三升十一美元,週四跌三美
540(PARK)."
一期星
報日僑
D
WAH KIU YÄT PO
日九十月三年戌壬蟹夏
頁四第張五第
定讚的
H
日日日日日期
# A 3 2 2
I
休假
114000
KUNBO
· PRE
EKULEROCKHAR?
-九日 市
HOUR
二四八
BKT
BAK
EKE
2.PRE
[1K IPO KONKI O KH
00 港人外遊熱潮未散
MIKA-O MKK 0 K<.0 2014
不期
計。 推算,實不容易對今年的旅遊收益有樂觀的估
·復活節假期內的外遊人鼓亦逾十萬之眾,以此 繼賽節的外遊戲熱的高潮後,僅有四天的
木因經濟發迟而減退,一元之間。 ,低人的外遊熱潮却 亦加一可至二百一了外遊恐成貓之外對
「客來?減少的因素之一的收費約提高百分之十一样,亦可以見到港人除
·翔將不影聽會爲界一估計今年復活 旅行團經濟,由這些酒杯的趨
丸二
「外遊的品味與趣忘柒据
外遊大潮可見,而以現|中國旅行新政的實施,一富和精明 石門,此早於李华前假期的第三項不利因素是,茲,甚至還可说是經驗而上,
阶段復活的假鼎的外毒,以及年初以來最多方
團已全部滿類,省內搭一屬馬家台諱富遊客去,
已達四萬名之多,另
「門的旅客則有一萬八千流園地乏信心,使花 ZAD+<ERSEY NARO-* <KUT 中國旅行社發改人裤,一概不了,况且現身航空,的熱蘭觀之键不容易裂 之間誰泡外遊的人數術,因爲在丰富的藝子對,估計,但以草初春節的 合計起來,亦即在一日自然更好是無動於班了,將是如何,目前雖仍罐
一入內地的人数俘二萬二的獠現仍然琮熱時 外出的旅客村一些人,「當繪加方面對港人而言,收空和外造游戏的比髮 下午四隣半經庥被毁係大陸少陸幾天,至於收」。至於命年全年的旅遊 一百六十九人,而截至脆自個兒迫返船化澳門之一,穿在也不無道理 千一百五十五人,經一間短作而錢旅行對的負:我們以此作 對,二千三千元衡到 想...
一般,已習慣了甚至是逆盛况及現時说活迎
的前一天》,經羅湖通一的因素之下,港人外遊|外淞消費相抵而該,变 日一餓後活節傯期開始在這些風應是不利,去年米港的旅遊收益和 球統計,在四月八「奪表現己一落千人,了不少的外在使帶著一 【本港通脹率不減的因素
已會出現了近三千億元
教人驚英港人的消費能,辦的事件,經營中亂繞,但舟然老人外遊的恩 熱閲潸况來說,也同樣經營中國旅行團貨不對,帶來巨額的外匯收益一 之本港旅行社,近期生,如此盛鐵局接亦流失。
原鸶旅行團亦一旦客滿
去年同期澹如百分之十
我們旅行坐的人數,饺
,他們估計今年復活節一所專利了:
,至於東南亞线的情况,故旅遊已成爾大变化的日經濟增長,
「十萬之眾。:
一遊的人数估計不會少於活可取,例如一些 「四日假之內號巷一夠盡量將行程得三至四之間,而官方於一 五左右,以此推案,在。該港人假期较少,也葉底長可能下附至百分之一
:如果說术港經濟衰
二月能的甘微
月察很有幾項原地房不利亞的旅客,大可將前往 熱的影响因素的話,那六千多元,俄倦了東南,但富士銀行估計今年的 一班未行成爲人外遊狂、英國等,費用也只係時,並沒有詳細說明,
三於外遊的因素亦同樣改日本的計闊一改,多有三。
有產生其影寃效力。」
日「復活節假期較短,一般外遊的因懿之一。估計的百分之四點二三角a 第一你不利因素是「三圈,此亦是吸引港人,行去計數字會就完整。
·據旅遊業內人士拉「西,此由於出口的下降
[公教人员或私人樓牌的
「假期只有四天,不足以出,今年前往東南亞旅,以及楼房建設的情况不 遊的人數雖然仍見踴躍 所致
一作長程的旅行。.
一定旅行團的最低收徒,可到星馬察或台灣東話,的百分之三格低。 而東力航空公司協會鯤的日本,否則的話,下出,戴去年十二月估計 的優待辦法已有改變,以花相若的價錢到隣近一班長將只達百分之二點 ,原因过東區佰機票,的齿勢。因商旅客已可一提升,但其整財政年的 |四月份開始已增加收費,因煤價錢較画而有減弱的增加,個人消費將會一 東南亞技旅行團收費在未增反減,而南控梭;工資會有百分之六點三 體高上銀行估計今年
...,第二项不利因素是,但其中的非律賓和
1982
中學會考試題預習專欄
經濟及公共事務(大)
明德出版社
王啓光提供資料 陳勵德R
Economic & Public Affairs
(26)
KK. Wong & L.T., Chan
MILL & DALE PRESS LTD.
Suggested Paper
Section A
(a) What is a firm?
(7 marks)
What is a limited.
company? Describe its
characteristics:
(15 marks)
Describe the
functions of stock exchange.-(8 marks)
(a) A firm is a business
unit formed for the.. purpose of carrying
on some kind of
economic
It is the
of prinit
business.
privately owned
Must
aré
motivated by pro
It should be noted
that the ownership
of a firm is a
ts
decisive factor affecting the firm! s behaviour.
(b) Limited company is a
legal form of enterprise designed. to take advantage of large-scales. production methods by pooling the
wealth of many people into a single enterprise While at the same time maintaining. centralized control "'over" and⠀⠀
responsibility for the operations. The main feature of a limited company is that the liability of the shareholder is limited to the fully paid-up value of the shares. be holds. It means that whenever the company finds itself in difficulties and unable to meet the claims of its creditors,
sharehold the
can lose
no more than the amount he has invested, the rest of his wealth being free from any claims by tlie company's creditors. In Hong Kong, limited company is set up under the Companies Ordinance. Each limited company. a legal entity, i.e. it is treated as a legal person and has the right to sue and to he sued. It can own; property in its name and makes contracts. The capital of the company is divided into shares and the
shareholders normally
do not manage the
firm A Board of
Directors is elected
in the Annual General
Meeting of all the
shareholders and it
is responsible to the shareholders.
(c) Stock exchange
performs the
following functions:
i) It acts as a
channel through which savings of the public can be invested in public companies, It acts as a capital market in which public companies can raise capital.
efficiently. iii) It reflects the
economic..
conditions of the country under normal
circumstances. It helps increase the mobility of 1oanable funds in the economy. It provides information on business performance and. prospects of each
firm quoted on
(a) Why taxation is
necessary and what principles of taxation should be observed? (12 nurka) Distinguish between direct and indirect taxes so as to show their advantages and
disadvantages.
(18 marks)
(a) Taxation is necessary for the following reasons:
To cover the expenditure of general
administration, defence, law and order, social and economic services provided by the Government; To check the consumption of commodities regarded as harmful, such as tobacco;
(ii)To reduce
inequality
incomes by
imposing
· progrelcome:
tax, and
To serve as an policy instrument in regulating the price and
employment level of the economy Four basic principles of taxation should be observed as follows. In the first place, taxation should be equal in the sense that the amounts people pay in taxes should be proportional to their incomes. Secondly, the amount of taxes to be paid should be certain. Thirdly, there should be conveniense, of payment and collection. Fourthly,
the collection of taxes should be
economical, ie,
the
yield should be
greater than the co of collection,
(b) The
between direct and indirect taxes may he describe as follows:
Direct taxes fall largely ou income They are closely
related to the ability to pay. Indirect taxes falloi consumption. A direct tax falls directly on the persons, taxed and so cannot be avoided. An indirect tax, being paid indirectly as part of the payment for some
or commodity
service, cəs
be
avoided to the extent that the consumer
cuts
down consumption of the goods, ör services su taxed. ii)Income tax, ani
item of direct taxes, ja usually progressive. This means that the higher the income the greater the proportion of it that has to be paid in taxation. A tax inpased upon a commodity, an iten of indirect taxes, does not fall entirely on the buyer. The incidence of the tax depends on the elasticity of demand for the commodity of the demand f relatively inelastic, the seller will be able to raise its price by a large proportion of the tax, and a large proportion of the tax burden is transferred to the buyer. If the demand is relatively elasti the seller can: hardly raise its price and he will have to take up a large proportion of tax asa result.
iv) The basic ⠀
principle of direct taxation is. that amore equitable distribution of income and weal thi can be attained. The basic principle of indirect
taxation is that it should be spread over a range of commodities as wide as possible.
and it ensures that people of widely different
taste's are called upon to pay some
taxes.
The advantages and disadvantages of direct and indirect taxes can be described as below:
An excessively high income tax Day reduce tie incentive to work of people in the high-and middle- income groups, and also discourage people to work overtime y^... A sales tax imposed on the cheaper, common and necessary goods would make the poor pay more than the rich. ii)It is generally recognised that direct taxation is more equi table than indirect taxation,
High profits tax, as an item of direct taxes, discourages people's incentive to invest and willingness to improve their business.
The cost of collecting direct taxea is higher than that of collecting.
indirect taxes.
vi) Evasion of direct
taxes is easier than that of indirect taxes. vii)Indirect taxes can be used to restrict consumption of certain
commodities such as liquors and. tobacco,
(a) Discuss the economies
of large-scale production,
(20 marks)
(b) Explain why some
small firms still exist
(10 marks)
(a) Economies of
scale production can be achieved by the policy manipulations within the fir Generally speaking, when output increases, the average cost of production tends to fall over normal ranges of output, The following are some of
the main econouies of scale enjoyed by large scale production.
Economies in the use of factors of pruduction.
The total costs of
output increase less than proportionately for a large output than a small one, Since large scale production day need more labour force, a greater division of Jabour will most probably be employed.
Consequently,
average
the
output: per man-hour can be expected to rise and, qualified: specialists can be introduced
addition,
larger firm will attract more. efficient Labour because it cau offer its employees better propects of
Promotiin ta higher-paid posts. Greater division
enabl sa more
method of production and the employment of more specialized machinery. Large scale oĚ . production is able to use its materials more econonically, for what might be waste to a smal firm can often be - used by a large firm in the
manufacture of by-products. ii) Ecouomies of..
administration. As far as
economics of administration is concerned, in division of labour
a larger firm is able to attain a more efficient use of labour and better management methods.
ii)Marketing economie It is generally the case that a large firm can buy more cheaply than a small one, it buys raw materials,
component parts, etc. in bulk.
Hence it enjoys
quantity
the
discount for large purchases.
Similarly, a large retailer can buy directly from the producerat a lower price than that charged by the wholesaler. As far as advertising and promotions are concerned, a large firm is able to afford a higher
Pending
on these items than a small firm.
iv) Economies in
finance Large firms generally are considered to be safer borrowers by the banks, thus they can borrow money from banks at a lower rate of interest.
Economies in research
Large firms again have advantage over the small, for they can set
up their own's
have
their own Faboratories, and can employ a large number of trained researchi workers. In this way, a large firm is able to study betterments for the company and innovate products for the company! growth.
Economies in welfare
A large firm is financially able to provide long- run, extensive welfare faciliti and improve the working" conditions for
its employees.
(b) Even though large
firms can enjoy the advantages through. Targe scale production, the fac that small firms still survive indicates the following reasons:- The size of the business tends
to be small where:
The work
involves the provision of, direct
services, for instanc
doctors, accountants, dentists.
the work can be done by craftsmen egi
in tailoring. c)a personal service is provided, such as that of the domestic plumber on electrician.
Sometimes, many small retailers can survive because they have been able to give personal
attention to the particular requirements of their own group of customers who are willing to pay a little more for this service.
iii)Small firms are
just suitable in supplying" enough quantities when there is only a limited demand for a commodity in the market.
7) In some forms of
production, costs quickly start to. rise as prodution expands, and so the most economical unit. is the small firm, or in other words, the
optimum size of the firm should be small.
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