Practice for the test

• Economie
• Middelbare school
• vwo
• Leerjaar 3

The demand curve for bikes has the formula
Qd = -0.5P + 1,800.
P = price in euros, Qd = demand quantity for bikes.
At which price will the demand be 1,250 bikes?

1. € 275
2. € 625
3. € 900
4. € 1,100

The demand curve for bread has the formula Qd = 200P + 600.
P = price in euros, Qd = demand quantity for bread.

By how many loaves will demand decrease if the price of a loaf increases by € 0.20?

1. 40 loaves
2. 60 loaves
3. 520 loaves
4. 540 loaves

What is the consequence for the demand curve for day tickets for train travel if the price of petrol decreases?

1. The demand curve will not shift
2. The demand curve will shift to the right
3. The demand curve will shift to the left

What is the consequence for the demand curve for tomatoes if tomatoes decrease in price?

1. The demand curve for tomatoes will not shift
2. The demand curve for tomatoes will shift to the right
3. The demand curve for tomatoes will shift to the left

What is the consequence for the demand curve for strawberries if cherries increase in price?

1. The demand curve for strawberries will not shift
2. The demand curve for strawberries will shift to the right
3. The demand curve for strawberries will shift to the left

Smart phone manufacturer Tonepoint has € 60 variable costs per smart phone. The total fixed costs are €1 million per year.
What is the correct formula for their total costs (TC = total costs, Q = quantity produced)?

1. TC = 60 + 1,000,000Q
2. TC = 60 + 1,000,000
3. TC = 60Q + 1,000,000
4. TC = 1,000,060Q

Butcher's White sells 300 sausages per day.
White has € 200 fixed costs per day and € 0.50 variable costs per sausage.
The retail price of a sausage is € 2.50.
Which statements are correct?

1. Sales are 300 sausages per day
2. The turnover is € 750 per day
3. The total costs per day are € 200
4. White's profit is € 400 per day

Bakery Young sells bread. The variable costs are € 0.60 per loaf of bread. The total fixed costs are €40,000 per year.

What is the correct formula for their total costs (TC = total costs, Q = quantity produced)?

1. TC = 0.60 + 40,000
2. TC = 0.60 + 40,000Q
3. TC = 0.60Q + 40,000Q
4. TC = 0.60Q + 40,000

The supply of leek is given by the supply curve
Qs = 200,000P - 40,000
(Qs = supply quantity of leek in kg, P = price of leek per kg in euros).
What will the supply of leek be in kg at a price of € 1.50 per kg

1. 160,000 kg
2. 260,000 kg
3. 300,000 kg
4. 340,000kg

The supply in the pikeperch market is given as Qs = 200P - 2,000. The demand is given as Qd = -200P + 10,000 (P is the price in euros, Q is the quantity in kg).
Calculate the equilibrium price in the pikeperch market.

The supply in the pikeperch market is given as Qs = 200P - 2,000. The demand is given as Qd = -200P + 10,000 (P is the price in euros, Q is the quantity in kg).
Calculate the equilibrium quantity in the pikeperch market.

The supply of e-readers is given as Qs = 400P - 9,000.
The demand is given as Qd = -300P + 60,000
(P is the price in euros, Q is the number of e-readers).
What is the situation in the market for e-readers at a price of € 100

1. There will be market equilibrium
2. There will be excess supply
3. There will be excess demand

Every year, a company records € 30,000 in depreciation on its company cars.

Which items in the profit and loss account and the balance sheet will be affected by this?

1. Company car in the balance sheet
2. Equity in the balance sheet
3. Depreciation charges in the profit and loss account
4. Creditors in the balance sheet

Patricia Smith is the owner of a chemist's. She buys new racking with a purchase value of € 40,000. The inventory will last for 25 years. The residual value of the inventory is zero. She wants to record depreciation in such a way that the depreciation amount will decrease every year.

Based on which method will Patricia need to record depreciation?

1. Depreciation based on a fixed percentage of the purchase price.
2. Depreciation based on a fixed percentage of the book value.

Indicate which examples are associated with the liabilities in a balance sheet.

Liabilities

Turnover

Bankloan

Goods in stock

Equity

Profit

Indicate whether the following items are stated on the debit or credit sides of the profit and loss account.

Debit side

Credit side

Loan costs

purchase value of the turnover

profit

turnover

Depreciation

fixed charges for gas, water and electricity

Revenue from investments

Inge has a shoe store. Last month, her turnover was € 36,000. The purchase value of the turnover was
€ 20,000.
When is Inge suffering a loss?

1. If the other costs are lower than € 16,000
2. If the other costs are higher than € 16,000
3. If the other costs are lower than € 20,000
4. If the other costs are higher than € 20,000

Indicate which example is not associated with the assets in a balance sheet.

1. Inventory
2. Liquid assets
3. Goods in stock
4. Equity