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1. Mary operates a garment factory in Shenzhen and in Hong Kong. She has suffered losses for several years. a) What type
Posted: Thu May 05, 2022 6:25 am
by answerhappygod
- 1 Mary Operates A Garment Factory In Shenzhen And In Hong Kong She Has Suffered Losses For Several Years A What Type 1 (76.64 KiB) Viewed 35 times
1. Mary operates a garment factory in Shenzhen and in Hong Kong. She has suffered losses for several years. a) What type of factors of production does she belong to? Explain your answer. (4 marks) b) Give TWO characteristics of the return for her work. (4 marks) c) Mary pays her production staff by time rates. Give ONE reason why she does not choose piece rate instead. (2 marks) d) The government plans to import more labour from Mainland China. Owing to the imported workers' lower wage rate, Mary will employ them to replace the local. With the aid of the diagram, explain why the wage spending on workers decreased finally on Mainland workers. (5 marks) e) Mary invites her staff to a dinner buffet and pays for them. Explain whether a dinner buffet is a free good. (3 mark)