[Solved] Understanding the Business & Economic Environment (UMED8A-15-1)

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[Solved] Understanding the Business & Economic Environment (UMED8A-15-1)

Understanding the Business & Economic Environment (UMED8A-15-1)

Time allowed 2 hours.

Section A (30%): 10 compulsory multiple Choice Questions

Section B (70%): Consists of TWO parts: Part A & Part B.

Section B (Part A): Microeconomic Environment of Business: Answer ONE question from a total of 3 questions (35%).

Important topics:

a)   Demand, supply and equilibrium,

b)   Production and costs,

c)   Oligopoly and public interest.

Section B (Part B): Macroeconomic Environment of Business: Answer ONE question from a total of 3 questions (35%).

Important topics:

a)   Inflation: causes & effect including policy orientation,

b)   Fiscal policy: discretionary Vs. rule; advantages & disadvantages,

c)   Monetary policy and the role of mpc to control the money supply in the UK.

Guideline:

·         The best sources of information include: a) the module text book, b) lecture slides, c) module and workshop handbook, which are all available on Blackboard, except the textbook.

·         In Section A, answer ALL MCQs, You can find these in the Study Units, Blackboard.

·         In section B, choose only ONE question from Part A & ONE question from Part B.

·         Ensure that you are skilful in drawing relevant diagrams for Section B – you could boost your mark if you can do so.

·          A good answer is expected to be well structured, combining theory with evidence to arrive at a meaningful conclusion.

·         In text referencing is not essential but useful if possible.

·         For more information regarding the assessment criteria see the module handbook.

Understanding the Business & Economic Environment (UMED8A-15-1)