Economics of Enterprise Answers

Ben and Jerry decided to go into selling their farm produce. The live-in Marble Hall, 

—an Agricultural college town —and completed a R500 correspondence course 

from Tompi Seleka on basic agriculture. With their life savings of R8,000 and R4,000 

of borrowed funds, they set up an informal market on a busy street corner in Marble 

hall.

Ben and Jerry want to formalize their business. Their next big decision is ‘’which form 

of business ownership is the best for them. Considering their case study and 

evaluating all the business ownership thoroughly, advise them on a type of business 

ownership they can venture into. 

For the following, change the quantity but not the quality of the statement.

1. No tax proposals that favor the rich are fair proposals.                         1.9 Marks
2. Some residents of Nairobi are not persons who can afford to live there.   1.9 Marks
3. All bar owners are persons who expect expensive lawsuits.                       1.9 marks
4. Some University administrators are persons who choke the education process.1.9 Marks

 b. For the following, change the quality but not the quantity of the statement.

1. All drunk drivers are a threat to other road users.                               1.9 Marks
2. No wildlife refugees are locations suitable for mining.                          1.9 Marks
3. Some slumlords are persons who end up in jail.                                     1.9 Marks

Some DCI operatives are not champions of human rights.             

State and discuss any three categories of knowledge and their subject matter

Agriculture Transformation Index  information regarding

1. Definition

2. Sector for which index is created

3. Objective of the index

4. Limitations

Consider the demand for a good. At price Rs 4, the demand for the good is 25 units.

Suppose price of the good increases to Rs 5, and as a result, the demand for the good

falls to 20 units. Calculate the price elasticity?

The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about −2.5. If it decreases the price to $63, what should be the quantity sold? Will revenue increase? Why

As a result of the CORONAVIRUS pandemic, the demand for some cadres of jobs have experienced a dramatic increase between 2020 and 2021.The demand for truck driving jobs, for example, have been observed to have increased during the period aforementioned, in the US and in the EU region: Required: a) Using diagram(s), use the information above to illustrate the expected effect of increase in demand on truck drivers’ income in 2021. b) Ceteris paribus, will the cost of hauling goods increase, or decrease in 2021? Illustrate using diagram(s). 

Agriculture Transformation Index brief information

What support tool(s) for decision making did the leaders of the airlines use to come up with those business strategies?

There are 5 workers in an economy. Each worker can make either 4 tins of milk or 3 shirts. Output per worker is independent of the no. of other workers in the same industry