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Economics
1
Murdoch University, Western Australia.
BUS171 Final Exam
The exam is 2 hours, plus 10 minutes reading
time.
The exam is worth 40% of the units total
assessment. Section A is worth 20 marks and
Section B of the exam is worth 30 marks, (the total
exam mark will be converted to 40%).
EXAM FORMAT
Two Sections: Section A and Section B.
Section A contains 20 compulsory multiple
choice questions.
Questions are taken from material covered in
Topics 1 10. 2
Murdoch University, Western Australia.
BUS171 Final Exam
3
Murdoch University, Western Australia.
BUS171 Final Exam
4
Murdoch University, Western Australia.
BUS171 Final Exam
5
Murdoch University, Western Australia.
Exam technique suggestions
7
Murdoch University, Western Australia.
Revision: Past exam written,
essay-style question (1)
Answer both of the following. This counts as one question.
9
Murdoch University, Western Australia.
Revision: Past exam written,
essay-style question (1)
Points to include and explain fully include: Part (b)
Show the shift leftwards in the supply curve for tropical
fruit, and explain, using the demand/supply graph that
there is a new lower equilibrium quantity and higher
equilibrium price.
Related markets include substitutes such as the
market for non-tropical fruits and canned fruit. A graph
can be used to show a shift rightwards in the demand
curve for each of these, leading to new equilibriums.
Complementary products may also be affected,
including manufacturers of tropical fruit products,
restaurants who use tropical fruits etc.. The supply
curve for these may shift leftwards as the cost of inputs
rises. 10
Murdoch University, Western Australia.
Revision :Past exam written,
essay-style question (2)
2. Answer all of the following. This counts as one question.
(a) Outline the advantages of free world trade. (5 marks)
11
Murdoch University, Western Australia.
Revision: Past exam written,
essay-style question (2)
Points to include and explain fully include: Part (a):
Explain what is meant by free world trade.
Briefly explain each of the advantages.
13
Murdoch University, Western Australia.
Exam Revision
14
Murdoch University, Western Australia.