QUESTION: 17

The following scatter diagram displays the total life expectancy in years on the X axis and GDP per capita (constant 2000 $) on the Y axis, in Country S for the past 40 years. Which of the following statements is true in respect of the graph?

A perfect positive linear relationship is shown in the diagram.
In most years, the samples shows a clear negative trend in the diagram.
There is no correlation between the level of GDP per capita and life expectancy.
In some years, the level of GDP per capita and life expectancy moved in opposite directions.

Answer(s): D

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QUESTION: 18

Which of the following statements defines a diseconomy of scale?

A reduction in the unit average cost caused by increasing the scale of production in the long run.
An increase in the unit average cost caused by increasing the scale of production in the long run.
An increase in the unit average cost caused by decreasing the scale of production in the long run.
A reduction in the unit average cost caused by decreasing the scale of production in the long run.

Answer(s): C

Reference:

https://www.acowtancy.com/textbook/cima-ba1/economic-and-social-considerations-and-theregulation-of-markets/diseconomies-of-scale/notes

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QUESTION: 19

Organizations are able to achieve more than individuals can achieve because they allow people to do which THREE of the following? (Choose three.)

To devolve decision-making
To pool resources
To share skills and knowledge
To specialize
To earn profits
To create hierarchies

Answer(s): B,C,D

Reference:

https://kaplanpublishing.co.uk/docs/librariesprovider3/look-inside/cima/certificate/fundamentals-ofbusiness-economics-ba1/look-inside-study-text-2020-ba1-fundamentals-of-business-economics.pdf?sfvrsn=8bbc7a01_2 (21)

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QUESTION: 20

An institution offers an 8 percent compound interest rate annually for six years, for an investment of $250,000. What is the total amount of interest that would be received over the six years?

$370,000.00
$396,718.58
$146,718.58
$120,000.00

Answer(s): D

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