《F409-10EX1MS》.pdf

Form: 4 2009-2010 Subject: Economics First Term Examination Paper : I II Time Allowed: 2 hours ★There are 9 pages in this paper, including this cover. ★ ★★ 《HKEA A APPROVED 》 calculators are allowed in this paper. ★★ Name: Class: Class No.: Date: Questions Booklet ECONOMICS PAPER I II 10:30 am - 12:30 am (2 hours) This paper must be answered in English 1. This paper consists of two sections, A and B. 2. Section A - MULTIPLE-CHOICE QUESTIONS a) All the answers must be filled in the multiple choice answer sheet provided. b) TWO or more answers will score NO MARKS c) ALL questions carry equal marks. No marks will be deducted for wrong answers. d) Answer ALL questions. 3. Section B contains EIGHT questions. Attempt ALL questions. a) Write your answers in answer book. 1 Section A. Multiple choice questions. Choose the BEST answer. (30 %) 1. In a planned economy, ... A. most productive resources are owned by the government. B. allocation of goods is governed by market prices. C. private ownership of property is widespread. D. customs are followed in the allocation of resources. 2. Which of the following statements are INCORRECT about a market economy? (1) All productive resources are privately owned. (2) The problem of ‘FOR WHOM TO PRODUCE’ is solved by the producers only. (3) Non-price competition does not exist. (4) All prices are market equilibrium prices. A. (1) and (