1972-05-19 — Page 25

REFERENCE LIBRARY

18 MAY 1972

超日橋

有教僑華頁一第張七第 日七初月四年子壬曆夏

WAH KIU YAT PO

CITY HAL

五期星

英中會考經濟及公共事務科答案

Economic And Public Affaize (29)

Hong Kong Certificate Of Educati

Examination (English), 1972

Conventional Questions

Suzreated Outline AnswerS

(PART-OWNE}

State and comment on (i) the main sources of government revenus and (ii) the main items of government expenditure in Hong Kong. Give some examples of direct and indirect taxation and show the differences between themë

isin, souzoss of Government revenue

() revenue from taxations'

grants from philanthropea and forign Governments

(iii) miscellaneous payments arising from land sales, the supply of water, the use of facilities an services provided by the Kai Ta Airport and the Kowloon Cantar Railway.

(iv) miscellaneous rees and royalties" such as court fines, and payments to the Government for the use of postal services."

loans may be regarded as a source of public revenue, except that they are only obtained as a last *Daort

sain items of Government expenditure

Education

(ii) medical and health services. (iii) water supply

(iv) housing (panticulary low-cost

housing and resettlement estates, (v) Civil engineering work concerned

with capital development of road. bridges and reclamatior police foros.o

(vii) miscellaneous project works by

P.W.Da

viii) security measures

(ix) Development: Loan Fund

(x) Balanos (covers the rest of

Government expenditure apreão over 37 other Government Depar

ples of direct taxation

ngs and Profits Tax

Salarios Tar

(11) Profits Tax

Interest Tax

Property fax

Personal AusGDEMON

Unclassified

(1) Estate Duty

(11) Ratan

(iii) Licencea

Examples of indirect taxation

Entertainments Tax

(11) Beta and Sweeps Tax

(iii) Hotel accommodation

ê

(iv) Customs Duty

(v) Excise Tax

Differences between direct and

Indirect taxation

The system under which each citizen is personally called upon to pay

a tax is known as direct taxation,

(11) The system under which the incidenos of taxation is vague is known as indirect taxation; in other words it is at first uncertain who bears the hurden of the tax.

zhe present agaten of taxation is "Hong Kong shows whether taxes are

paid personally or through a third persona

What is "money"? unas are the TUZOH tions of money? - Explain some of the banking, sotívities that are directly .concerned with promoting trade and

industry in Hong Kong.

Defini Lon of money

1) It is anything that is universally

accepted in payment for goods or serviços, or in settlement of a debts it in the means of valuation and payment.”

rumotions of Boney

(1) it in a medium of exchange (ii) it is a measure of valus

it is a means of deferred payment it is a store or value. Banking activities directly concernsa vith promoting trade-and industry in Long Tone

(1) advancing Loana to business razME (11) financing local projects in the

expansion of our trade and industr (111) discounting Bills of Exchange

(iv) instituting the credit nyutma suo

as allowing exporters and importera to open Letters of Credit.). supplying trade information so local business houseRe

(o)Hong Kong is said to suffer deficie

cies in the factors of production,

but these are compensated for by other factors that contribute to

to economic growth. Dieousm, Deficiencies in the factors o production

1) limited land space; only 398

square miles.

(11) absence of raw materials: (iii) inadequate facilities for 1

technical skills.

training

(iv) sootal problems such as insecurity

of employment and traffic conges- tion have an indirect adverse effect on the workers' efficiency, Cesponsation by other factoza

(3) Our workers have a greater geograp

hical and occupational mobility; they can reorientate themselves to new skills, and are capable of working day today, in a wige fectory and tomorrow in a textile factory

(ii) our entropreneurs are quick to

react to problems and are capaba. of nesting changes in the world marketi

(111)reclamation of land and levelling. of hills have solved our problem of shortage of space.

(iv) introduction of the chift system.

rogvita in maziaus utilisation of capital and in solving the shortage of labonz, as well as in BROS production.

(v) use of "flatted" factories to reach optimum production. (vi) political stability in Hong Kong

has maintained the continuous flow of capital into Hong Kong. (vii) a deep natural harbour with up-

tondato part facilities han fácil- itated the laport of raw materials from abroad,

(viii) Government a encouragement. to

industry such as keeping our takes reasonably low all thoug

(ix) toe growth of satellite towns

enables the localization of industry;

(x) constantinprovement in our bank-

ing activities has done such të accolezata our economic growth, (zi)the gratial adoption of new trends:

in trade and commeros Ls in foreign conatrios (such as using the #containerization" pyetem to handle

cargoan) has kept Hong Kong in lino zith overasan countries,

the setablichment of trade organis- atioga to offset the deficiencies in the footers of production; ezazfled the Trade Development Connell, the Hong Kong Product- ivity Centre and Council, the Eeng Kong Export Credit Insar- salto Cozboration

(xiii) Government's concern in our

inadequate provision of training Facilities for technical workers has resulted in the establishment of the Industrial Training Advia- ory Committee to examine our needs fa technical training,

(iv) Since 1969, Government has appr- oved in principle the establish- ment of a polytechnic, which expected to be built by

(V) GOVEEndent has tried to

chengen in industrial legislation “to give local workers a better

doal; eg. increasing the range: of benefitae payable under the Workcen's Compensation Ordinance.

(a) What are the advantages and difrice alties of intemational trade? Whý. doos Hong Kong angage in internat“ tonal trade? What are some of the shier items of Hong Kong's importa and exporte? khich countries azo Hong Kong'o principal suppliers and buy220′′

Advantages of international trade (i) regional specialisation in industry

is made possible thus increasing world total out-put in each prode not and through ezchange between. countrieu, each country can enjoy a greater quentity and a wider range of products.

the principle of international can be put into practice thua achieving international" co-opera” tione

iii), the atanard or living in each

incountry in raised.

Difficulties of internatimal trade (1) trade barriers such as impositio

of quotan, protective tariffa, eto, (11) immobility of factors of production

*«g, Labour.

111) the existence oi GLIIärent national gaby banking systems.

(vi) the existence of different national

Dürrences.

-WAY, HONK" Kong engages in international

trade

(1) to obtain those produote that ww

ourselves cannot producs, e-g. foodstuffs and raw materials3. (11) to report what we imports (iii) to allow us to specialize in those industrise in which we have a greater comparative advantage (9.g. textile and tourist industries);

(iv) to enable local citizens to keep

in line with those in 'other planda particularly in fashions,

Chief Items of Hong Kong's Imports

Food (fruits, vegetables, most, cereals, fish, egge and dairy products}

(11) Textilə yarn, fabrics, clothing

and base metals

(111) Lium:animals.

(iv) Maotric machinery

Medicinal and pharmaceutical make products

(vi) Transport equipment.

(vii) Tobac00 and tobacco manufactures,

viii) Scientific and controlling instru-

wants, photographio and optica) goods.

Chis? Itena of Hong Kong Exporta

(1) Tortils yarn, fabrics and made-up

articles

Miscellenous manufactured artiolss (which include plaatio toys and dolla, artificial flowers, foliage or fruit, wigs, false beards, halı pade, plastic coated rattan eri5- öles, but not furniture).

{111} Electronic components, loudspeaker

television sets and tuners, transceivers and computer señory memory cores,

(iv) Electrical machinery.

Hong Kong's principal suppliers

(1) Japon

ii) China

(111) The United States OF ABOTICS

(iv) The United Kingüóm

(v) The Federal Republic of Germany (vi) Taiwan

Hong Kong's principal buyers

(1) The United States of America (11) The United Kingdom

111) The Federal Republic of Germany.

Japan

Canada

(vi) Australia (vii) Singapore viii) Welter Cand

Taiwan

b) With examples from Hong Kong, snow what a 'stook exchange' is and how 1t operates. In what aspects is stoak exchange important to a gr

What a retook szobanro▾

(1) It is a market where stooks and shares are bought and sold, (11) Publie limited liability comp

#zines (0.6, the Hong Kong Tale-

phone Company Limited, the

·Star Forry Company Limited). pan through the 'Stook exchange mall thair dhasca to publie and

members of the public can buy these shares not directly fro the companies but through the Jatook exchange".

How it onazatos {{{1}} There are 2 types of members of

the Stock archange.

(11) The Brokers are allowed to repre-

sent members of the public who wish to buy or sell the shares. of the public limited liability

(111) The Wobbers are allowed to buy

or sell shares only through the brokers. : 0 Bel

(iv) For example Kr. X wighea to buy

1,000 shares or ABC Co, Ltd. Ho telephones to a broker and expresses his intention. Bi. broker will then contact the jobbers at the 'Stock exchange! and buys from the one who offers the lowest price,

Nr. 1, on the other hand, wishes to 11 1,000 shares or ABC Co. Ltd. He telephones to a broker and expresses his intention. His broker will then contact the jobbers'

""at the fatook exchange' and sells to the one who offers the highest prios. (vi) It can therefore be seen, thán

sach Jobber makes his living by the difference between the prices at shich he buys and gell shares.

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英中會考經濟及公共事務科試題

Answer questions 1 and 3 in essay form

EITHER

OR

State a Guime on tiine man' sources of govemment evenue and the main items of government expenditure in Hong Kong. Give some examples of direct and indiret axation and show the differences between them

What is money what are the functions of money? Explain some of the banking activities that are directly concerned with promoting trade and industry in Hong Kong.

ng wong is satu to subser denciencies in the factors of production, but these are compensated for by other factors that contribute to its economic growth Discuss.

EITHER

What are the advantages and difficulties of international tradet Why does Hong Kong engage in international trade? Wha are some of the chief lens of Hong Kong's imports and exports? Which countries are Hong Kong's principal sinplian and buyers?

With examples from Tiong Kong, show what a "stock exchange" ts and how ir uperates is what aspects is a stock exchange important's growing economy?

Give a systematic account of the Admini tion of Hons. Kong

df Explain the term civic responsibilities. What are the rights enjoyed by a citizen of Hong Kong and his duties towards the government?

EITHER

la What do you know about Educational Television" and "Free Primary Education in Hong Kong? Why were they introduced? Discuss the effectiveness of their introduction

What are the aims or the govemment in the field of social welfare?" Indicate, with examples, the extent to which these. aims have been achieved in Hong Kong and suggest measures. to improve or to bring them closer to the needs of the community

State tive principles of British Justice which are adopted in Hong Kong Give a brief outline of the stern llaw nanzia in Hong Kong

END

(iii) The brokers, on the other hand, Ka commission according fized scale of charges. viii) krokers, als give adviön free charge to members of public on inve

of a stook exchange

to wowing economRT.

(1) It give 'liquidity! to ssouzitiem, since there are always willing buyers and sellers of existing securities..

(1f) It makes it easy for any rare

to raise capitaktor expansion of existing business." (iii) It provides a seans by which

members of the public can deter- mine to what extent the public ✅Companies are connazoially. successful, by noticing the changes in the prices ofe shares.

(iv) It provides a means of va

wealths for example

public companysis na! the Government will compensate with's payment based the average share priÖSS OVET

inst 5 years.

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