3E Economics par. 5.2 and 5.5

• Economie
• Middelbare school
• vwo
• Leerjaar 3

Par. 5.1 assignment 5

1. Turnover € 4.800 Purchase value € 3.200
2. Turnover € 8.000 Gross profit € 3.200
3. Turnover € 8.000 Gross profit € 4.800
4. Purchase value € 4.800 Gross profit € 3.200

Par. 5.1 assignment 7

1. A 8.281 - 1.109 B 1.109 - 1.020
2. A 8.281 - 1.109 B 1.109 + 1.020
3. A 8.281 + 1.109 B 1.109 - 1.020
4. A 8.281 + 1.109 B 1.109 + 1.020

par. 5.1 assignment 14a
What is not a good calculation?

1. 10.000 / 100
2. 20.000 / 200
3. 30.000 / 300
4. 30.000 / 600

TVC sales 200

TC sales 100

TVC sales 100

5.1 14b

10.000 + 12.000

22.000 - 20.000

2.000 / 100 x 200

Assignment schedule costs

q	TFC	TVC	TC	CpP	TR	TP
0
100		5.000
200					120.000
300
400			200.000

Assignment schedule costs

q	TFC	TVC	TC	CpP	TR	TP
0	180.000	0	180.000	-	0	-180.000
100	180.000	5.000	185.000	1.850	60.000	-125.000
200	180.000	10.000	190.000	950	120.000	-70.000
300	180.000	15.000	195.000	650	180.000	-15.000
400	180.000	20.000	200.000	500	240.000	+40.000

Wage costs <--> Net wage

Net wage = Gross wage - Taxes and Employee social insurance contributions

F.e. = 3.000 - 1.000 = 2.000

Wage costs = Gross wage + Employer social security contributions

bijv. = 3.000 + 500 = 3.500

                                     WIG

                                                                      Verschil loonkosten werkgever

                                                                                   en nettoloon werknemer

Contributions

contributions employee insurance schemes paid by employers

F.e. WW and WIA

contributions national insurance schemes paid by employees

F.e. AOW and ANW

Calculate the net wage:
Gross wage: € 3.000,-
Tax: € 800,-
employer's social security contributions € 75,-
employee's social security contributions: € 150,-

1. € 3.950,-
2. € 2.200,-
3. € 2.050,-
4. € 1.975,-

1. National insurance schemes are for everyone
2. Employee insurance schemes are for employees

1. 1= correct 2= incorrect
2. 1= incorrect 2=correct
3. Both are incorrect
4. Both are correct

Wage costs

When wage costs increase, Dutch companies could be forced to increase their selling price

This means that the Dutch international competitiveness could decrease

Increasing labour productivity could solve this

Causes higher labour productivity:

- Education

- Mechanisation , Automation

- Better division of labour, Specialisation

Labour costs per product will decrease if the percentual increase of the ...(1) is higher than the percentual increase of the ...(2)

1. 1 labour productivity 2 wage costs
2. 1 wage costs 2 labour productivity

graph page 155 ( blue and red )
The labour costs per product in 2003 will ...(1) and the labour costs in 2009 will ...(2)

1. 1 decrease 2 decrease
2. 1 decrease 2 increase
3. 1 increase 2 decrease
4. 1 increase 2 increase

Limiting wage increase

Labour costs per product are important for employment

Low labour costs per product --> Low prices Dutch companies

--> Better international competitiveness The Netherlands

 --> More demand for Dutch products --> More production 

--> More employees needed --> Lower unemployment

An ICT company started of in 2019 and we have the following financial information:

 In 2019 turnover was € 300.000,- and costs were € 244.000,-. In 2019 they also bought 5 computers for their employees for € 12.000,- in total.

In 2020 turnover increased to € 320.000,-  and costs increased to 

€ 268.000,-. 

For 2021 they expect turnover to drop to € 270.000,- and the costs to still be € 268.000,-. In 2022 they will buy new computers for the employees

In 2019 turnover was € 300.000,- and costs were € 244.000,-. In 2019 they also bought 5 computers for their employees for € 12.000,- in total.
In 2020 turnover increased to € 320.000,- and costs increased to € 268.000,-.
For 2021 they expect turnover to drop to € 270.000,- and the costs to still be
€ 268.000,-. In 2022 they will buy new computers for the employees.
Highest profit in?

1. 2019
2. 2020
3. 2021

Assignment

We buy the computers in year 2019, but it's not fair to say that the € 12.000,- belongs entirely in 2019.

We need to spread the cost over the service life of the computers and that is 3 years.

So not € 12.000,- in 2019 and € 0,- in 2020 and 2021, but 

12.000 / 3 = € 4.000,- Depreciation costs in 2019,2020 and 2021

Assignment

Result 2019 = 300.000 - 244.000 - 4.000 = € 52.000,-

Result 2020 = 320.000 - 268.000 - 4.000 = € 48.000,-

Result 2021 = 270.000 = 268.000 - 4.000 = - € 2.000,-

Depreciation

Fixed assets decrease in value over the years

The costs of the fixed assets is spread over the years

                                                    Purchase value - Residual value

Depreciation per year = -------------------------------------

                                                   Service life

( Sometimes depreciation is a % of the purchase value or book value )

Depreciation

A machine is bought 1/1/2019 for € 90.000,-. The service life is expected to be 9 years and we expect to get € 18.000,- for the old machine when we sell it 1/1/2028.

What is the book value of the machine 31/12/2020?

A machine is bought 1/1/2019 for € 90.000,-. The service life is expected to be 9 years and we expect to get € 18.000,- for the old machine when we sell it 1/1/2028.
What is the book value of the machine 31/12/2020?

1. € 70.000,-
2. € 74.000,-
3. € 80.000,-
4. € 82.000,-

Assignment

Depreciation = ( 90.000 - 18.000 ) / 9 = 8.000

Book value = 90.000 - 2 x 8.000 = € 74.000,-

Hw.

Par. 5.2 assignments 4 and 8

Par. 5.5 assignments 8 and 11