hnd 经济学导论 Outcome1 Exam

Assessment task instructions Read the following passage and answer the questions which follow. SteamScot is a privately run rail company, which provides steam train journeys in Scotland. At present they operate three specific rail journeys in various parts of Scotland. These journeys are aimed at the tourist market and operate throughout the summer months. Around 70% of passengers are domestic tourists with the other 30% overseas visitors.

The company has been fairly profitable over the last decade, and with the help of various grants available, they are considering an expansion of its operations. However, it is also aware that within the next five years a major overhaul of its capital stock as well as major repairs will have to be undertaken. It is this dilemma that the board of the company faces.

It is estimated that in the coming year it will have £2.5 million to spend. This money could be used to open a new line between Inverness and Fort William, or to begin the repair and replacement plan on its current routes.

A recent report has highlighted that following recent terrorist threats, visitors from the USA are expected to fall within the next three years, but that European visitors are likely to increase as the Euro rises in value. It is also expected that Visit Scotland (the tourist organisation) will mount a major advertising campaign in England to encourage more visitors from that country.

The board of directors of SteamScot are also considering a change in their pricing but are unsure if this is a wise move. At present the average price of a journey is £4 and 60,000 tourists use the services.

What is this ‘problem’ and what is the opportunity cost of the replace and repair programme?

2 From the table in the previous passage, construct a demand and supply schedule on a diagram and identify the equilibrium price and quantity. 3 (a) Calculate, using total revenue, the price elasticity of demand when: (i) price rises from £4 to £5

(ii) price falls from £4 to £3

(b) If you were a member of the SteamScot board, what would you recommend

the company does in both situations? Give reasons for your advice.

4 How would the advertising campaign by Visit Scotland affect demand for SteamScot journeys?

Show the effect on a diagram.

5 Apart from an increase in price, what other determinant would encourage SteamScot to increase its supply of rail journeys?

6 If the Chancellor of the Exchequer was to reduce income tax, would this affect demand for SteamScot’s products? Explain your answer with reference to income elasticity of demand.

7 Using a diagram, show what would happen to the equilibrium if the Scottish Executive gave SteamScot a subsidy. Explain any changes and how the market would return to equilibrium

SteamScot是一家私人经营的铁路公司，它提供了在苏格兰的蒸汽火车行程。目前，他们经营三个具体的铁路行程，在苏格兰的各个部分。这些旅程的目的是在整个夏季旅游市场和经营。与其他海外游客的30％，大约70％的乘客是国内游客。

在过去十年中，该公司已相当有利可图，并与提供的各种津贴帮助，他们正在考虑扩大其业务。但是，它也意识到了它的资本存量，以及大型修葺工程的大修，在未来五年内将要进行。正是这种困境，本公司董事会面临。

据估计，在未来一年将有250万美元英镑花。这笔钱可以用来打开一个新行之间因弗内斯和威廉堡，或开始就其目前的路线的维修和更换计划。

最近的一份报告强调，最近发生的恐怖威胁，来自美国的游客预计将下降在未来三年内，但欧洲游客有可能增加，因为欧元的价值上升。它还预计，访问苏格兰（旅游组织）将安装在英国的一个主要的广告运动，以鼓励更多的游客从该国。

SteamScot董事局也正在考虑在其定价的变化，但不确定如果这是一个明智之举。目前的一个旅程的平均价格是4和60,000英镑的游客使用的服务。下表所示的价格，供应和需求董事会委托进行的一项报告。

门票价格数量要求供给量

英镑6 20000 100000

英镑5 40000 80000

£ 4 60,000 60,000

英镑3 80000 40000

英镑2 100000 20000

1 12万英镑

. 1 SteamScot面对一个“基本的经济问题”！

这是什么“问题”更换及修复计划的机会成本是什么？

构建一个图上的需求和供应计划，并确定均衡价格和数量。2从表在前面的通道，

3（a）计算，使用的总收入，需求的价格弹性：（一）价格从4英镑上升到5英镑

（二）价格下降，从4英镑英镑3

（b）如果你的SteamScot董事会的成员，你会建议公司在这两种情况下不？给你的建议的原因。

4如何将访问苏格兰的广告活动影响SteamScot行程的需求？

图上显示的效果。

5除了在价格上的增加，还有什么其他的决定因素将鼓励SteamScot增加其供应的铁路行程？

6如果财政大臣，以减少所得税，这会影响SteamScot的产品的需求呢？解释你的答案与参考的需求收入弹性。

7使用一个图表，显示会发生什么样的平衡，如果苏格兰执行了SteamScot补贴。解释任何的变化，以及如何市场将重返平衡