1982-06-25 — Page 22

報日僑華

WAH KIU YAT PO

頁二第張六第日五初月五年戌壬夏

恩光夫雞

心

愛

「不罷休。

·承了祖先遺傳的天職,從黎明晴的時 叭刻起就引吭長鳴,非把太陽從東方叫出來陋。

Σ - - BRYKANSF

【見叫*就起床身情。 尧;博杏上記祖逖聞再起委的故事,他是防

SECKE TRSWERKZ - PRZY

作,可是你聽也好,不聽也好,他們還包括

·現在種植式式的開雉早代替了公薄的上。

w我起床射雁,他丈夫雄雄在床上的天遗没有

孫嗎,士日皞豆」,起妻子師見病叫,備丈 子瓞見獾叫·懽丈夫快些起床上朝;「女的 事,拎經上的「聽既鳴矣-朝旺盈英一,是变 在未有高遠的年代,人傅的確聽聽叫辦

「篇叫了-時做不早,是睡覺了。」

wwww w

MERNE

青年生活探索營 假期間舉辦「 童軍知友下月辦 啟靈中心將於營 另,平生活探索交誼

(井三日

· 其他活動酐有:綜合忤會、槍香妞、鏡

探索“人生果及生活中挫折與經歷之分享九 青年人參與社區怅攜之意義,配會及個人之關 六七》香港之前先問科;(八)青年人生命意義 政之推行及功出六人關係之易導論方 〔四)香港人之心的及社會意識;八五山地方行 -CIDEAHN ZOAREBRNED- 下成長的我...(二)如何介定融業與事業之區洲 確立新一代青年在社會上應扮演之角色。

·内容所叢雄之主边包括一)香港教育制度 活問題之探案,人生觀及就會問題意兒之分享3

五月二十九日開業,由港一,介由畢業班時裝股 「線工設計展」將於太一與室鍅行一項時裝发 校對手院跟辦之本年度一包兆龍輪機工程赖罗 香港高工學院太古」 開幕後,該院又在 廿九開幕理工平台下广民出

·酐及紡織股計擊生

◎ 港督夫人主揭幕

【理工學院設計展

ÖRKITEM (+18)•(4).. 畔棒地下向本中心查詢,電話·「三大七

各有谢程。及後一院。

“十一

| ERGGHKCHIE

『室平容校:

設計脫在九娘紅磡計及縫製之日常使服,

- 設計獲展出日期览

- 獲出行將奉業之全日】六月三十月至七月四日

畿品要作日行台磡

八時三十分。夜被證

STEEKNEXR+T

設計及時崚码出各項:「作品,爾於七月八日至

五期

篇水流

云的無下列四越 求偶 𡐓說魚類叫的铝

篇張

· 公甡的啼叫似乎與

日五廿月六年二八九一曆公年一十七國民華中

新創斷不須必動活軍童女 獻貢大更出作會社對能始

立成昨會分區西中軍童女港香 出指禮主士禮班長署務政九港

象于纸迎,仅在却令她們覺得沉陋。

司新

的更宮冒險性·需要大家的支持。因篇女盆远

勁必須不斷創新,才能對社合作出更大的貢猷。

钟朝氣勃勃的形杳,日後推出的活動可能比現有

女人,女磨。立天車 須得活從正,至九本的 推沉動子在班爾每 活陳臨。尤不署會個手 勦出。數斷長。維

与

宜

宜。

- YEHR-ELES

天直拳成立後,先後戰

軍分會。中西區分會今

各區未成立區議會之前 班氏又指出:港九

,全港九只有一個女第4

·東加接近,可朗正合時

各分會的設立,

也正好與地方

行政財劃相品合,推

地方行政の中

分會成立典映中,

育教儅藏

1982

中學會考試題預習專欄

經濟科參考資料

明德出版社提供

Suggested Answer to

Economics

1. (a)

Primary production i'a defined as those economic activities of extracting rav materials and food- stuffs from the nature.

Secondary production refers to those economis activities of manufac turing raw materials into semi-finished or finished production.

Tertiary production is the provision of services and distribution of

products..

(b)

During the period 1971-1976, the

percentages of working population in farming. and fishing, and manu- facturing had decreased while those in financ-

ing, insurance, real estate and business services, and other services had increased, In other words, percen tages of working

population in primary and secondary production had fallen and those in tertiary production had risen during 1971-1976.

The chart «lone does not show that the output of-manufacturing, farm→ ing and fishing declined over the period because no information is given in this clart on the uses of land, capital, and entrepreneur in these production activities. Hogever, historical evidence shows that: there was an increase": in the output of

and

manufacturing, farming fishing because of increasing use of capital advanced technology, and skilled entrepreneur during the period,

(8)

The increase in the. working population in the sector of financing: insurance, real estate und, business services was mainly due to the development of Hong Kong se a financial centre, increasing needs for: basic financial and business services from large corporations and the growing economy, and also the need for more and better housing result of economic growth.

...... The increase in the Vorking population in the sector of other services was mainly due to the demand for better standard of living as there was a satisfactory growth of real income during this period, More personal services were then required.

2. (a)

Hong Kong benefits from the large number of small firms in the manufacturing sector in the following waya:

High adaptation to changing market conditions: Small firms are flexible in making adjust-

ii.

ments for changes ⠀

in market conditions

as they usually require small

capital and mach-

inery. This provides

greater flexibility:

to the manufacturing sector in response

to changes in market demand.

Lower coat of adaptation: As small

firms require small- scule capital and equipment, the cost of changing produc- tion structure and lines of production would be lover since overhead costs are relatively cheaper. iii. Diversification:

Small firms facili- tate the process of industrial diversi-

on in Hong fication în Kong since new industries are usually small in scale in the beginning- and would expand only when found to be success¬ ful. Small firms reduce the costs and. risks of the manu facturing sector in trying new lines of production and diversification. Less structural

unemployment: As small firms usually employ small number of workers, the degree of structural unemployment, if possible, would be to a lesser extent and only a minority of workers would be affected.

The labour produc- tivity of the small manufacturing firms lower than that vas

of the large manu- facturing firma, From the given data; the labour produc- tivity can be mean sured by the ratio of the share of total manufacturing. output to the share of total manufactur- ing employment,

27.2. which is

36.2 -0.75

*

for small firms,

48.4

1.12 for

medium firms, and

--1.21 for large

24,4 20.1 firms.

ii. The differences in

labour productivity among the large, medium, and small. firms are due to the following reasons: First, large firms have more capital and machinery to work vith, thus increase ing the efficiency of workers. Second, workers in large firms are usually skilled and receive more training, and

therefore their productivity is higher. Third, greater specializā➡ tion can be achieved in large firms than in small firms: a the former usually employ more workers. This will increase the production. efficiency through a greater

of

division hour.

3. (a)

1.

Supply

is said to be elastic when the percentage change of quantity supplied is greater than the percentage change of price.

Supply is said to be unitary elastic when the percentage change of quantity supplied is equal to the percentage change of price. Supply is said to be inelastic when the percentage change of quantity supplied is less than the per- centage change of price.g

Factors affecting the elasticity of supply of private housing are as follows:- First, the avail-

the a ability of land for private housing will affect the elasticitý

· of supply of it. A limited supply of land for housing every year will reduce the elasticity of supply of private housing.

Second, the supply of construction

materials also affect the elasticity of supply of private housing. An adequate supply of construc- tion materials usually increases the elasticity of supply of private housing.

Third, a sufficient supply of workers in private housing tends to increase

elasticity of supply, and vice versa.

i. The new equilibrium

price will be 82.20. ii. $0.20 of the

increased coste w

will be borne by the consumer and $0.30 of it will be borne by the producer. The elasticity of demand between the two equilibrium the prices

220-250 $250

2.2.2.0

2.0

250.

30 X 2.0

250 X 0.2 1.2

The change in consumer expenditure on the product

220 X 82.20. X $2 8484 - $500

$16

250

Commercial banks in Hong Kong area licensed under the Banking Ordinance.

A bank incorporated outside Hong Kong which desires to apply for a banking licence is required to show minimum assets of US$10,000 million, and its country of incorpo ration must both apply an

adequate form of prudential super- vision and offer some acceptable form of reciprocity

to Hong Kong banks, A domestic company, to be eligible to be licensed bank must have. à paid-up share capital of at least $100 million, must have been in the business of taking deposits from and granting credit to the public for at least 10. years; and it must hold deposits from the public of at least $1,500 million and total assets of at least 82,000 million.

Under the Deposite taking Companies Ordinance, the minimum paid-up capital required by an applicant for registration as

company is 810 million,

deposit-taking a

A commercial bank in Hong Kong accept demand,

saving, RE

deposits

while a deposit- taking company can only accept tine deposits of at least $50,000

Cash ratio is the ratio of réserves to total deposits of a bank.... Liquidity ratio is* the ratio of legal reserves to total - deposits of a bank. Commercial banks in Hong Kong are required by law to maintain a minimum liquidity ratio in order to ensure that a bank has A sufficient reservas to meet customerst withdrawal needs et

any time and bank run

can be avoided. iii. If the minimum

5.()

liquidity ratio for commercial banks in Hong Kong were raised from 25% to 40%, the money supply in Hong Kong would be reduced, Since banks have to keep more reserves than before, leas loans and advances would be made avail- able to the economy, Consequently, the

money circulating in the economy would have to be cut down.

The growth rate of GDP at current market prices for Hong Kong betweeTI 1973 and 1980 wan always greater than that at constant market prices. because the former includes rises in the general price Tevel during the period and the latter does not. The growth rate of GDP at constant market prices alvay i greater than the

of per growth rate"s capita GDP. at constant market prices because the latter takes account into the growth of population of Hong Kong during the period.

(b),The growth rate.

per capita GDP at

constant market prices does not adequately reflect tue changes in the living standards of the general public because of the following

reasons:

First, the index does not reflect the distri- bution of income among the people of Hong Kong.

wide There may exist

the income s gap between of the rich and the poor

per capita GDP grows fast. Living standards may not have been improved at all. Second, the composition - of GDP is not given by: the growth rate of per capita GDP at constant market prices. No infor- mation is then given on the types of production and expenditure from the index alone and we cun- not know how much the people's consumptions have improved.

-・・

Third, a large proportion of the increase in per capita GDP may be used for capital formation und investment, therefore reducing the consumption level. Living standerda of the general public may would be high in

this сиве.

(c)While only GDP______ statistics are compiled in Hong Kong,ditional information such an income obtained from foreign assets and

propertiële die

required to

Kong.

the GNP for Hong However, it would be difficult to collect data on the income obtained from foreign. assets and properties. because these data may not be reported to the government by the firms. or individuals concerned, b. (•)

When introducing a new tax, the government has to consider the following. factors:

1..

tax must be equitable in the sense that the rich

hat the should best a greater proportion of the tax burden than the poor. The tax must be convienient for the general public in making tax payments at a suitable time Taxpayers must be provided with detailed tax regu- lations on the calculation of tax. The collection of tax by the govern-

by ment must bel economical and (b)time-saving....

A 50 per cent FineA personal tux allowances proposed by the Financial Secretary would increase the after-tax personal income more to the Tov- income group than to the high-income group because the rise in personal tax allowance has greater effect on the former than on the Tatter. As a result, Low-income group woul'u tend to have a greater consumption than the high-income group, since the former usually has a higher marginal propensity to consume..

(c)A 0,5% reduction to the rate of corporation-

profits tax

would increase the after-tax profita of business firm firms. This would make investment more attracs tive and profitable as business firms can retain r more profits after paying tax. Invest- ment in future would increase. de pa

(d)In spite of the cuts in personal tax and corporation profits tax, tax revenues from these two sources could increase if personal incomes and corporation profits increased greatly. This is possible because these tax cuts can stimulate people to work more and firma to produce more.

7.

The rapid growth of Hong Kong's tém exports from 1978 to 1980 vas due to the modernization of China, which depends greatly on Hong Kong as an entrepot in handling. trades between China and western countries.

The trade balance of Hong Kong in 1980 19 =68,171430,072

−111.651 ($Million) --13,408 (8Million). This trade deficit affected Hong Kong's balance of payments unfavourably becausa it represented ani outflow of money from the country to the rest of the world in settling the deficit in the balance of trade. (b)The following give rise to payments between" countries:

i

Buying and selling of goods by citizens of the countries; Flow of capital between countries by their firms and citizens, and Provision of services between countries by their citizens and firmei. iv. Income from

Investment obtained;

and

by foreigners; Transfer of gifts voluntary payment between countries,

(c)To correct an adverse balance of trade

country can'

kipromote exports to the rest of the world by improving their qualities, Lowering their prices, or sales promotion;

reduce the volume of imports by developing import- competing goods in the country so that local consumers can shift their demand from importa to home-produced goods;

and

fil, depreciate its

currency so that ita. export prices vould be lower and import prices higher. It is expected that exports would becom # more competitive ing overseas markets. and imparts more expensive it home markets. However,

this measure is. effective only when