Economics review Book 12356

For borrowers, interest means the ________________ paid for earlier consumption.

Advantages for vertical forward expansion

• economies of scale

• increase market share

• ensure the outlet of products

• reduce business risk

When inflation rate is high, which function of money is hurt?

• A medium of exchange

• A store of value

• A unit of account

• A standard of deferred payment

Describe TWO limitations of using real per capita GDP to measure living standard

Ways to increase labour productivity

• import more workers from other countries

• provide more education and training

• reduce the number of public holidays

• more research and development on production methods

• provide more non-wage benefits to employees

economies of scale means the ________________________ decreases as output level increases.

List THREE advantages of public limited company over partnership

Suggest THREE possible reasons why AD increases.

Suggest TWO external economies of scale

Name the market structure of gas stations in HK. List THREE features of this market structure