1. Is demand for red meat in the developing country

income elastic or income inelastic?

2. What evidence is there to suggest that red meat in this

developing country is a luxury good?

3. What is meant by the term 'mixed economy'?

4. What is meant by mixed ownership in this case?

5. Discuss why the government wants to accelerate the

privatisation process in China. Include two reasons in

your answer.

6.Assess one possible difficulty that might be

encountered when encouraging the private sector to

get involved in the running of SOEs in China.

7..Discuss the methods used by the Chinese government

to reduce external costs.

8. Suggest two possible examples of specialist workers at

Red Carnation Hotels.

9. Describe one advantage of employing specialist

workers.final 70

10. Discuss the importance of training at Red Carnation

Hotels.