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WorksheetsECO Analysis and Evaluation
Total questions: 10
Worksheet time: 6mins
All of the following should be included in the trend in analysis, except for?
Increase, decrease or stay the same
Two values
Percentage change
Conclusion
All of the following are included in the evaluation, except for?
Perspectives
Benefits
Costs
Trends
How would this trend be graded in the analysis section of the ISMG?
The revenue increased from $500 to $700 per day.
Discerning
Effective
Adequate
Superficial
How would this trend be graded in the ISMG?
The revenue increased.
Discerning
Effective
Adequate
Superficial
Calculate the percentage change to improve this trend to a "discerning" grade.
The revenue increased from $500 to $700 per day.
40% increase
40% decrease
100% increase
100% decrease
Identify the part of analysis that is shown below.
The increase in revenue from $500 to $750 was due to both an increase in the price from $5 to $6 and equilibrium quantity from 100 to 125.
Trend
Relationship
Reasoning
Conclusion
The 3rd part of analysis is using reasoning. Given the graph below, identify all of the statements that should be included in reasoning.
This causes an increase in supply, shifting the supply curve to the right
This causes a decrease in supply, shifting the supply curve to the right
This decreases the price from $45000 to $40000
This increases the quantity from 50000 to 60000
Identify all of the statements that should be included in reasoning to show perceptive use of data and economic information.
This shows a tax, which causes a decrease in supply
This shifts the supply curve to the left
This increases the price from $2.50 to $3.00
This decreases the quantity from 50000 to 40000
What does BCO stand for when preparing an evaluation answer?
Benefits, Costs, Opportunity
Benefits, Consequences, Offer
Benefits, Costs, Overall
Balances, Credits, Overall
Identify why this conclusion would be perceptive.
The significant benefits of increased production and consumption of electric vehicles in Australia outweigh any potential costs. This is because a subsidy is vital in order to reduce the selling price and therefore reduce emissions and recharge the Australian manufacturing industry.
It states that the benefits outweigh the costs (or vice versa)
It gives examples of benefits and costs
It has a "this is because..." sentence that is relevant
It would be improved further if it only identified the benefits and not the costs.
