(a) (i) Define an indifference curve (2 marks) (ii) Illustrate and clearly explain the nature of indifference curves for perfect substitutes and for complementary goods (7 marks) (b) Explain the property of convexity to the origin of an indifference curve ( 4 marks)

(i) Briefly explain two exceptions to the definition of an indifference curve. (4 marks) (ii) Explain any four uses of indifference curve analysis. (8 marks)

(i) What is an indifference curve? (3 marks) (ii) Explain the main characteristics of indifference curves (12 marks)

A small economy has three main industries which are steel, motor vehicles and construction. The industries are interdependent. Each unit of steel output requires 0.2 units from steel, 0.3 units from motor vehicles and 0.4 units from construction. A unit of motor vehicles output requires 0.2 units from steel, 0.4 […]

List and explain six examples of key control questions that would be suitable for inclusion in an ICEQ for a wages accounting system.

Explain how an Internal Control Evaluation Questionnaire (ICEQ) differs from an Internal Control Questionnaire (ICQ).

Give and explain four merits and four demerits of using a flowchart to record an accounting system. (20 marks)

(a) Define the following terms as used in input-output analysis: (i) Transactions table. (3 marks) (ii) Primary inputs (3 marks) (iii) Technical coefficients. (3 marks) (b) Briefly explain the importance of input-output analysis. (6 marks)

Lilian is the project manager of J Construction Company. The Company is bidding on a contract to install telephone lines in a small town. It has identified the following activities along with their predecessor restrictions, expected times and worker requirements. Activity Predecessors Duration Weeks Crew Size Workers A – 4 […]