1983-07-08 — Page 33

育教僑華 頁一第張九第

日八廿月五年亥癸歷

1983

中學會考試題預習專欄

經濟

(=)

明德出版社提供資料

SUGGESTED ANSWERS TO

FCONOMICS (2)

(a) Hong Kong needs to

import rice

is a nece Decause

food

for the people of Hong Kong. However

as Hong Kong is small- in área, rice production is very insignificant and cannot support the needs of local people of over 4 millions.

Hong Kong needs to import cotton yarns. because garment is a main manufacturing industry in Hong Kong. Cotton yarn is a main input in garment manufacturing, but it is not produced in Hong Kong. Therefore, Hong Kong has to import them as the main supplies of garment industry.

Hong Kong needs to import computers because the production structure of Hong Kong industries have been moving into automatiou and computerization. This means that more computers would be. needed in the aid of the modernization of the Hong Kong economy. As Hong Kong cannot produce computers. adequately, she has to import them.

The change in unit price of rice in HKS ×5 × (3.4-3.

HK$1.50

The change in unit. price of cotton yarns in JIK

1,000

HK$2

(2.5-2.3)/100

The change in unit

price of computers in

=1,000,000 x (5.4-5) HK$400,000

(ii) If their demand

inelastic, the prices of those imports would increase and the total value of them would also in- crease. This can be illustrated in the..... right diagram.

As price increases from P

· P1 to P2 the

total value would be

which is greater than the original total value before the price change, OPA1a (iii) The price changes

mentioned in (i) and (ii) would raise the general price level in Hong Kong as rice is a necessary good and cotton yarns and computers are raw materials and machinery necessary to the Hong Kong manufacturing. A rise: in their prices would certainly raise the cost of living and cost of production. Therefore, the general price level in Hong Kong would increase. (c) The change in w

domestic price level in (b)(iii) would adversely affect the balance of trade of Hong Kong. This is because as their prices rise, more Hong Kong dollars have to. be spent on them since their demand is

inelastic, This means that the value of imports would increase. and the balance of trade would be adversely affected. (d) Hong Kong is

experiencing balance of payments problema. The possible reasons can be attributed to the following examples:

(1) In recent years,

3-319151

金門 即運處權上

there have been in- creasingly large number of Hong Kong people travelling abroad. This causes an outflow of Hong Kong dollars on the current account of the

balance of payments

as tourisme

expenditures in

東京迪士尼「全台灣環島遊

$ 2860

$1450

6-8天天天出發 4-9天天天出發 韓國(單人房)菲島菲航假期

$2700

$1920.

4-5天達135日出發7天選46日出發 平價機票 特快星馬泰台証 九龍登打士街56號柏裕商業大廈2010室

CARRY ON TRAVEL 旅運有限公司

5-254549-0 5-241845

敦煌旅運

-0 JUL 1983

報告

WHALL

WAH KIU YAT PO

五期星

foreign countries have been increasing. (ii) Some Hong Kong

industrial and commercial firms have recently invest some Uf their money capital in foreign. countries. This causes an outflow of money capital on the capital account of the balance of payments. Therefore the balance of payments situation would become worse

The Hong Kong Land Co. Ltd. is a public limited company. (ii) The public limited

company has its shares quoted on the stock exchange. The

ership of shares can be freely transferred by the shareholders on the stock exchange. There is nó upper limit to the number

sharehol

public limited company but it should not have less than seven members. The public can freely take part in the buying and selling of the shares of the company. The size of this kind of company is generally large. In order to protect the interest of the public's investment, the publi limited company is required by law to publish its financial accounts annually for the public, (b) In 1972, the Hong

Kong Land Co, Ltd. took over the Dairy Farm Ice and Cold Storage Co. Ltd. The latter now

operates chain of ice-cream parlours under the

The name 'Creamery'. possible reasons which could have account for these two cases of expansion are as follows: (i) This a vertical

Integration. After combination of these

Mirage U

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日本

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firms, the Dairy Farm

Ice can produce ice cream with cold

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台

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$.2150

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52980

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日期:逢星期一、三出辣

本州富士山迪士尼樂園八天豪華團 $3590

日期:天天出發

北海道東京迪士尼八天超級豪華團 $3980

日期:逢星期三出發

·鹿兒島九州本州迪士尼八天超級豪華團 $4080

日期:逢星期六出教

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出發日期:10月1日~10月9日

日 廸士尼六天台 四天團(單人房)

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福祿壽旅行團

.

請向各大旅行社接洽

財神大酒店

THE TAIPEI REGENCY

夏日酬賓

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福祿壽台灣環島團:逢星期六出 住宿財神大飯店:七天只收$2030

storage facilities.

Stor

Co. Ltd. Then the retailing of the ice cream products can be through the commercial shops owned or managed by the Hong Kong Land Co. Ltd. The advantages of this kind of combination are that there is a guarantee of marketing services provided to the ice cream products as shops are provided by the Hong Kong Land Co. Ltd., and also the cold storage services `are ensured by the

Cold Storage Co. Ltd.

(11) From this

d by the Cold:

expansion, the whole group in running the

ice-cream business can put the three main” elements of production - supplies manufacturing,. and distribution of products together, all of which can be ensured and well cordinated.

(1) In the flow of goods

to the consumers, a

Creamery as a retailer performs the following functions: --It serves as a link

between the producer and the consumers. By keeping close contacts with ita customers daily, understands the needs of the consumers and can suggest ways to improve the firm's business.

It distributes the ice-cream products to the consumers in various areas in

Hong Kong

It bears the costs of storage of ice creams and saves the trouble of consumers in storing large stocks of goods in their houses.

(ii) By operating a

large number of ice-

cream parlours, Dairy.

Farm can gain the

following advantages:

3-308311-6

5-254596

歐洲豪華團

特點∶盘操住宿於市内装豪酒店,每天早午晚三警

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$5890 云 英、法国、瑞士10天至期店, $6890 歐洲(中、北)15天邊星期四: $9990 歐洲(中、南)15天:10004 $9590 175528/7 04/8 11/9 18/8 $10590

・・・・

愛欣欣

台北三晚

太平洋 150.

ABO.

日八月七年三八九一公年二十七國民中

-It can carry out

mass production in

of ice

the manufacturing

creams. Also, it can enjoy discounts in buying raw materials and other supplies. It can be in close contact with customers in various areas of Hong Kong. A high efficiency of distribution of ice сrа

creams can be. achieved as there. are a large number of ice-cream. parlours and the custs of retailing can be reduced.

(d) The local ice-crean

market is an oligopoly as there are only a

ice-cream few manufacturers in Hong Kong. The actions of them are interdependent and can affect the

others much. Since the number of these firms are few, competition among them is very. keen.

(1) The Financial

Secretary overstimated Hong Kong's real GDP growth rate by 4% in his budget speech.

(11) Expenditure

Approach is being

adopted to measure Hong Kong's GDP..

Four types of information are required to compile the GDP by the. Expenditure Approach, They are: private consumption. expenditure, gross investment

expenditure, govern-

ment expenditure, net exports (Value exports Value of imports)

According to paragraph 1.2, the Financial Secretary revised his previous forecast of the GDP growth rate because during this period

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180

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日

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美麗寶島1321316 3-910546

the US economy had

not recovered as

expected and its recession bus continued to affect Hong Kong's trade performance;

the growth in private consumption expenditure was slower than... expected; and -the growth in

private Investment was slower than expected.

(ii) If Hong Kong wants

to regain a high economic growth ratë, the following:

industrial policies should be considered;

-Increase the

productivity of exports and promote the overseas markets of domestic exports; -Research and develop the design, quality, and categories of domestic exports in order to increase their

competitiveness; -More advanced machinery and computers should be increasingly employed in

domestic production. -Encourage private,

investment.

According to paragraph 1.3, a Tower level of economic activity would reduce government revenue..

(ii) A lower level of

economic activity, mean that there would be less demand for goods and services. Firms will have to

slower down their production since their business revenue will fall. Consequently, workers will be

earning less as wages may tend to fall. As, the profits of firms and incomes of

workers fall, taxes paid to the government will fall. Therefore, government revenue will decrease as à result of low level

of economic

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Y

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activity.

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或貨不對辦,歡迎投訴。 會員信譽可靠,如有不滿 本會設有中央賠償基金,

電話:五—四五二三七。