/ - name here

•
rsoll Edexcel en r

iearnational GCSE
1ote .
,onom1cs •

paper 1

Monday 4 June 2018 - Afternoon

I

Paper Reference
Time: 2 hours 30 minutes 4EC0/01
y udo not need any other materials. Total Marks
0

,)tructions
1 Use black ink or ball-point pen.
1
fill in the boxes at the top of this page with your name,
centre number and candidate number.
1 Answer all questions.
1 Answer the questions in the spaces provided

-there may be more space than you need.

~formation
'Thetotal mark for this paper is 120.
1Themarks h in brackets
for each question are s own d each question.
·use this as a guide as to how much time to spen on
1
Calculators may be used. ·

'lavice nswer it.

~ead ou start to a
' ~ each question carefully before Y
, Chryto answer every question. the end,
eek Your answers if you have tirne at

rurnover ,-.

_, ,1111111111111 1111
 ~-- _,,, ..-
. eglobal price elasticit

-
st1

-
-
- =
..
som• . • II [ii What is meant , . orchocol ·•
An•w" ALL •""t;oo,. w,11, Y°"' ,n,w•" '" th• •P"'' prov,ded. I y of demand f mand'> obe
,.;"""""' m"" """'w"•• with ,<ro« 10 , box 11!- If you ch••9• your mmd about a by pnce elas . . ate bacs is .
w.,, put• lln• th••"•h th• box Ii! Ond th••"'"" your new ,o,wer w;th a cross= ticity of de e mated t (2)
:\h"" ~O!\S\~ Illiq_~'q. . ...i\l.t ~ --·\.~t \ti
1 "'" " 1"
' ' " " "" ' '" wmid ma<ket fo• chocolate ba,s. ~\\R...· --0.<
·
Price s
(ii) Suggest tw~ possible reasons why the global demand for chocolate bars is
price inelastic.
i p
{4)
P, .......... . .\))Q\0\0-,~ . . .%~\~1 Lb~~ .@l '1t Mi) ~ ~ ~·--- - ·--
····&mO:\\ ..... ...c:A....Qto¢~~~ . ..~~.1 hl<l"l. \N~ _SP.. & .... wn,~.
. . .... . ..'i\~~~~·····1:,~ .\1-0t~.\ t ... w.~':L\.~\W)~.~\1--U\·
D
... . . . . .... .Lto\.o\~~.\~.~ ~.\M\'<.\ H>~ .. . 9.t. . . . . .
D,
-
o, Q
Figure la

Quantity ...... . . .. ...... .~\lli... o+-0....~ i .

... . ..\,\?1.~..r\:P_jli;
\ovt1.\:. ~ ~.~ -~ ····-···
W::~ ~ - ~I\\ ...h.M.. .~ ~.CJ_,~-\.\
(a) (i) In Figure 1a the change in price from P to P1 is most likely to have been · · · · ········ · ·•· ···\ ·g_····~~~.. . ~(J)\0,,~J9~~~\M\\.... kg .. .....
caused by
--
(1) · ············· ·················~ k.~ 'i\\&.\t~ '. ......
0 A an increase in population.
--
0 B a decrease in supply.
0
l1l
C an increase in advertising.
D a decrease in the price of a substitute. I
(ii) Explain the reason for your answer to (a) (i). \
(2) \
. . .fflo;.: .U>w"'"' , .1»,11~,'I: .~t\\1.1/i\:t::fu,, ~~1'> . .lh~11x .. ..... . . ···
o.,,~ Cl<)\ 'I J>, .Cl»'t9'1lli'> ····" ' 1\ll1>,,1 ±½, Q\\S~ "'l\i. : .
 Ca dbury Is a British multinational co nfectionery con1pany which produces not

,burY I5
. a firm operating in the privat
Ill oefine the term 'private sector'.
e sector. --------------
only chocolate bars but also a wid e range of other snack products. It is planning
to increase the price of all products by 10%.
(\Ii) Price elasticity of demand Is the most important factor for Cadbury to
E- ~Yi~. .u:J- lOf\:\)o\~ (21
co nsider when decidlhg whether to Increase prices. Do you agr'ee with this
statement? Explain your answer. (6 1
'Q.~ ·· ·t"'-'~\l
· . ···•, . .'"ij~l~
. ................ . .. .
'v~\ '-<L ~~-\;'\(A\.':\ o~ ~ . i~.1-n~ro~.~. ~.\ff\~9\\:~'.\: .
, ~O'< ,\:-o lq~1 .W . ·.. \§ .. . Q.~\}.,,,\~.. ~\.~CU.~~ ... _. . . . . . . . . ·· ·· · ·· · ···
\ . \\ la-&...
.\:
.y,\\l... O\ ~1..\X\O\,Q\o,.~ yj~ ~:\;,~~ ~ \ & . . ············· Cadbury hafs just i ~vested £75 million in four new production 1.
eournv1 11 e actory ,n the UK. The new lines m k
.
mes am,
\ :-~\~ ~\\G ~N\\},'J · . · MGive one advantage and one disadvanta;,:::::::::;::,::~:;;,.,,,
0 · .... . · ·· ·. .... ~'cl..~ ~~~ ..... ................~M:'.\\~ ..... {) . . . ... ... . . . 14)
-r,-:.1~ ~\&.<,.u,,;\\\l. :,,.\hl>c 'I:,~ '\~Jo~ -)()\~ . ... Advantage
.~ ·" .~ ~'w<..~ . . '!l'!.)~\\O\:h... :\1::1,;. ~~\\~"'l,O~~t, ..... Tue.. . . . . . .~ .!t\11... .\..\l)b Q \c:V,Q~-Jlli8-i,,1;_]~\l!II.
·. ~~"i\.~V\\..~ .!'fs . . ~ .-eM \)~!lM....'!~\~ . . '.1± . 'IV\~. \l..~~\L . . . . . . .· · S°~v:'.l\l... ... lli . . . . . .~O,l!,~M!Y\,\iju.\ti~!4_oi_'®I½ ·
. -\±,Q_:i,,3\~ . ds- ......... . . Q',.\ t..~¼ ! : I , \ ~ : . . ,.. ""':,,},,1,\\;I':''\:) '
_ll...
. ........ \~.S ~ . . . :) \.\ :.~ ~ . O'f.\ . .~.u .Jt . PQ.~9~.. ..
- • I
\
..~o..~-~ . ~-o\~. .xo,. . .6.-Q. . .. . . . @..9.. . . ................... . . . . . ..... . . .
. \~~t .. ~oh'-~)) . ~ ."'-~ ... ~~\1\l. ·=~Ql~~.l 9~\J .\,Q~~ . . .
\p ~)\~~\. .~ 'f.°.~b .~.o\. ...~hl~ .~~\_011\..t\ Disadvanta 9 e _
i\-1-tl\rt •'•"l'i\1-\;
(NQ1v- . .
I
'"" \ : ..
........~ .'.-::Y.!':: - ·····~.
. ........ . .......... . . . ..... .. . . ...... ( •
~, , ~ ~i..\. L.,~ t--iOW.
. "'\,V'IS ,. _,
('f'{)r.,_, L,\U.i n~\ "'\Ill
VJ
u ....w. . \. Q..,
\ .. ....... ..... .\o.~l.. ~\J(),,"\,,l\Jl.:>. (r::9.~ ,
\
 (iii) Cadbury could have invested the £75 mill ion in o pening a new distribution
centre in India, instea d of install ing new production lines at the Bournvill e

--
factory. This is an exa mpl e of

A a fixed cost.

--
B an oppo rtunity cost.

C a variable cost.

D an average cost.

(iv) Wo rke rs on the new production li nes are members of the UNITE trade union.
St J te t wo aims of a trade union.
{2
l 1•

.......,.. .. ... ;
 ·····
·····
.. ........ ···· · .... .. .. .. . ····· ... ••'
·········
,,, . ·••'
.... ....
····· ............ ...... ............ ..
....

.. .. ......... ........ .·······

,
r
ti CT) Using t he data in Figure 2a, explain two reasons why Au stralia is considered to
,, be a more developed economy than Burundi.

\\%\.'<l)\, °'- 'n~ ~ .r<,\~~ .. t~l . ¼w~.1JtLtO'<"

l 1:-0°1°) (}-'"I cl %oJi.' d~ goxajj.-c. L'-\ u ? ) ·.. g\). t l?)lllli--M
'fi~ °'\(}}(~~ 0i~~t\,t0\ l ~l'J l . LOV'c:-~
0
-b
~ %)cV{}-\,~\.\.}·1 <)J . . . .. ..
.................. •·• • • " " " ' '

.1 . .... ...... , , ,,, , ·· · ·••" ' '

. .. ... ....... , ...

.. . ,, .. , .. . , ......... ....

' ..., .. . .
'
.,,, .......

.. . ..

., . ... , , ,.. , .......... .

. . . ' .. ········· . .. .
... . ... .. ... ... .. .. .. ... ... .. ... ector of an economy.
.. .... .... h secondary s
.. .... · · t e
. .. . , u~ation in
, I of an occ
(ii) Give one exa rnP e
)'
•• ••••• • • •• .. • •• ••••• ••• • ••• • • •••• • • •• ••••• • •• • • ••• • ••••• • •• •• •• • • •• u • • •• • • • • •• ••"••• •
 ort from the International M -- -
_,.,..,,...
--------------
nt rep . onetar F ---
ece odernise its transport and comm . Y und reco ------- _
i~ ld rT1 external benefits. un,cations infras~rnended that Bu
erate ructure in ord rundi
n , en0
fine the term external benefit's'
ITT De .

........ ·• ··· ..... ...... ........ .......... .. ...................... ... ........ ..

......... .. ........... .. ......................... ... ......... .. ... ... ............ ..... .................

(ii) Identify and explain one external benefit resulting from an improved
transport and communications infrastructure.
(2)

_ i~\\µt-\\~~9' i(}:\::I~~ : 1:\-.-~\\ ~t\Q~\.

-·· · · · ~"l)~.\ . . Y~9'~JQ~.J , . . --
.................. -
.... .. ... ......... ... ........ ........ ......................... ·· ··•·"" "' ...... ...... .
~- .. .............................. .. ... ....... .............. ........ .
..................... ················-
······•"" ............ ..................... .
. . ······................................................. ················ I' B th
. d oducing cars in Austra ia. o II
'. 017 General Motors and Toyota stoppe h pr pu'1 atio11 0fA4stralia was too sma
was thatt e po ,\ ' ·
1Panies said the main reason , tinue production.
I

(i)
lacked sufficient economies of scale to con

Economies of scale are

I ' I 1P
--
-
. the scale of production.
by increasing f roduction.
0
0
•
A a decrease in co
.
sts cause d

B an increase in reve
; . .
nue cause
J ,
I caused bY
d by .1ncreas in9 the
increasing the
5cale o P

scale of pro

. asirt9 the sea

le of
.
duct1on.
-
·O C an increase 1n suPP Y d bY 1nde
h cause
rage cos
fl D a decrease in ave
production.

I
\
.iarc h 2
1v
1
01 7, t he Western Australia
,
powe r, the states electricity
n 9ove -------- -----..---..___
rnrnent ann ---...._
-----
istern cornpany ounced Pl
• · ans to .
. atisation w ill always benefit th Privatise
priv e consu
i ·th th is statement? Explain your rea mer. To What ext
w1 sons. ent do You
agree

··············· ············· ··· ···· ··· ···· ·· . , ...

.. ...
· · ·• •"
... ,· ···,, , ••' '
..... ···· · ·• •' ·······•·'
·· ···· ··············· ······· ····· ·· ··· ··
,. ••··
.... , .....

.. ·· ···· ····· ·· ········· ······· ····· ···· ·· · , ...

.... ·····
,, ,, ,·•··· ·•'
······
·········· ··· ···· ··· ··· ····· -···· ·· ···· ··· ······ ······ ., ..

.... .... .., ·

------------ - -- ·- . 1dent1·ty an d explain the impact of inflation on wages and ,a,->ngs
(ill
-
...
- wages
(4)
.~.~
NeW ze,land inflation rate, 2014 to 2017
3
I
2.S
j,1-::\\fl.o\ ~ t ~'&l
.,,. k>..... .....0. . \ ~. -~\M.~~ ~ -~~'9.!' \°'\l ·
..,
----~----
2.5
-· ____,; -~----- -
2
1 ----
r- ,__-. ,as::::
~ . -·--
1.5
Inflation - - - - - - ; • . - - I ' S\a~~'h?r\ fl\~ ~c,,<J::. _~lo:,1~I ijO'»\ \ b Iµ\
rate % I - ·· T\C,.,\\ ·
\l~"'-()\ ~~\W, . 1..\M...... - "--- -
0.5 .J - -
0 j I, I
1 I 0
2014 ... i"i
2015 2016 2017
Figure 3a
(al (i) Using Figure 3a, describe what has happened to the inflation, r,a te in
New Zealand between 2014 and 2017. (3)
,
.... ············ ....... .
/-----
' AQ[111
1,1'!
5 and 2016 the New Zealand

.
----
,e ~201 _Ilion to NZD 1,436 million. current account d f· .
e IC1t in
creased fro
- --
·fy and explain one possible rea rn
Id
erit1 15'
sed from 20 "to 20 l6.
son Why th
e current
·~crea
1 .
account def1c1t
. . has

............ ............ ... . ... ....... ......

I ········ ······················· ........... ..
I
a e3b shows three items that would appear on Ne~ zea Ian d'scurrent account.
bl
r·-- ----------------_.;._-,,-,___.-____ _
New Zealand's Current Account Insert A, B, C or D

f\
American tourists visiting New Zealand
-· -------------------l------
1
I

Sales of New Zealand dairy products to China

(_ I
____ _ t 1
Sales of Japanese cars to New Zealand
.....

Table 3b
. . bl 3b ith the options below. Place your
ii) Match the items described in Ta e w be used more than once.
answer A, B, C or D in Table 3b. Each letter may

A invisible export

B invisible import
[3)
C visible export

D visible import

\
 :we ,. r,,..-:: «

--
... To what extent is a deficit on the current acco unt of the balance of payment s
(111)
a problem for a country? Explain your answer.
(6)

... \~. . ... \.s !.~~i\J\ .. ..'1".> ~\\-.. ....L ~ 0,\,Vl~ ...... i.~.~ .}()Jc)\,
1.... ....\ l g ~ ·· ···~ °"·····h 'o9~j~...l± .f,\,l~\r'J,;: .~ ..~~~\t:
t~Q,,, ~'@fl) ~\ .t Q-\))~1~ ~1\i\hCl:il~
\~ H ~O,,<,,>.,~\\ i~ J~b~ % ~I;;?
. J\, ~~\)) ~~OX\ I:)\:)
····· ~ ' c j....... .. ...-. ..... .\!.\. .. .. Or.\.~ ..... ( 0 ~ ~... ~.lr....\.t ......
t~ ~'4L~~ ~Q½'tl~ to-r-.
J-~'.'.~~:
'» - ~\~ wv..,\li:) ~ ·· · · ····
··································· ········ ···································· ····· ························ ··········
.. .. .. ..... ........ ......... ...... ............ ...... .. .. ......... ........ .
. .... .... . . ... ..... . ......... ..
·····•... ...... ............ .....
,
·········· ··•.. ....... ...... .... ..... ...... ........ .... .. .
I
··· ··· ••....... .......... ...... .. .. .... ..... .. .. ....... .. ... .... .. .. .. ..... ... .. ...... ......... , .. ... .. .. ... ... .. .
... ... ............................. ...
1:
I i·············· ······• ... ............................................. ········ ......... .
... ........................ .. ........ ..... ................... . . ....... . ' ...
.... .... . ... .. .. . ...... . ... . ... ... ........... .... ................ ..
'1 ·· ··· ·· •···········-- ·· ··-- ···· ······ ···--····· ·· ··--·· ....... ..... .... ............. ··· ·· ·•······ ····· --·•·············-- ··· ·· · .. ........ ...... ....... ..................... .... ...... .....
... ..... ........ ... ... ... ......................................
····· ······ ······ ·············••·············•····· ····• ·· ·· .. ..................................
. ...... . ... ·•· . . ....... ...... ....... ..
.... .... ... . .. .. . . ....... . . ..... .... .......... . ........ .
'

·· ······· ···· ······· ·· ······ ····· ········ ·· ···•···· ·· ·· ····· ....... .. ..... ..... ...... .. ......
.. .... ..... ... .... ... ....... .......... ..... .
... . ..... . .. ... .. .. .. . ..
·· ····· ·····• •-.··• •>o ... ... .. .. ........ ... .... ... ..
................ .. .......... .. ........ ....
. ..... ........ ...... ........ ..
.. .. ... ...... .. ......... .. .. ... ...
... .. . .. ...... ... .... .
I . ........................................... ····· ··· ············ ····•·····•········· ... ................. ..

t......... ..... . .. .... ....... ... , .., ..

..... ... ... ... .. ... ......
.... ... ... . . . .... . . .. . . . ... . ..... .

I
•• •• • • • •• • • ••• • • • • •• • • ••• • • ••• • • • oo . , • •
.. ..... ......... ..... ...
. ... ... ... .. ... .. .... ..
.. . ..
. . . ...... " . ..... .... ...

.... .. .... .. .. .. .. .. . .............. .. .... ..... ........... .

... ...............
. .. ....... ... ... ..
.... .. ... .... .
.. ... .. ..., ... .... .... ...... .. .... .. ... ... ..... .... ..........

.. . . .... . ·· ·· ·· ·· .. , ... ..... ............ .. ..

..... .
... ............. . .. ······ ·• •... .......... ... ......... ....... .
 -
f
zea d government is bei . ng. urged t o introd uce tighter
. 1 I .
,New .
,,f ' ef!l'sslan
·
,ons to red uce poll ution in Auckla nd horn t
, e o one-third ofat1o
egu thenscountry's
on

· I tiOf1•
a
.ntl,,,ss
.r tile likely effect iveness of regul at ion in reduci ng poll ut ·ion .in Auckland.

, ..... .
. . ...... .. ,, .. ·····
. . ... .... .. . ... ... ..
····•···· ···.
······
,, . ,··· ·
.. .. ,.
' .., ...... . .. .... ....... .. . ·· ••"

,•• • ''
. •• '
........ ... . ,
·······
........ ······
.... .. ...... ....... ....... ........ . . ...
,

. ···'
. , , ..
.. ... . ., .... .. •• ' .. ··
,,

, .....
. ··· ··· ···•""''' '' .... ...........
.... •· ·· .-··
 ·1 •1'1) 1denn1y a, ,-
IU '--AU I U "' ,wua isadvantages of
(
"'!"'"
( 1)
.•·· ····· ~ll,~~'l;,4.:..... ........... . . globalisa,;on.
4 (a) (i) Globa lisation is the
D A inueasing 1e,els of protectionism of national economies. _}N, (}····· . - "'
l,. '. . ~ ~-i)•,'N\.PC\,.-Ki · . · . . ····· \V\\~~ .... \
D 8 increasing 1e,els of debt of national economies. . . ......... ..~:'4~\. . ...J .. ~°i'--· - . . ·tr~\1%)\.\i
Ill increasing integration and interdependence of padonal economies. LC) \.-o \Dlh"'-- Ol.'.\L. !'<'()I>;,,.,. "1°'4
C
~ - .. ~}"-> .. t1'9\-,.\_:\,.: ~,~~~\ hl½o~a.-1,
\,) "'!\ \..f'\:}'I\ \ .-
D inc,easing amount of legislation and regulation of national
b- ' .. ... . .. . .. . ·---- ~
economie s.
M B,iefly explain two ways foreign Direct Investment (FOil has encou<aged
(4) \ ···················· ~';~ ~ .~ . .... ---- . . -
globaHsation.
' l \ - ~ o,,>.011,'Q
,J~"'~ ~~<:JI"\·
,--.... '
,
'
....... .-'· ;J } ....... J'tw,:_~l\~.
,., 'I -\',-@._
. ~~\!,\.\\~~Ill)\~~:)½,,~~•
..... . '' ~\r--~"1 1 ;.~ ........ · x
· ·~~~
······~ · · . -_.. :_ O=" ~:"""~
--
- ____ -
'.?,\~L~!1,\.ITQII~
--=-~-
. \\-'-'.... . . . . . . ..... . . . . . . . . . . . · · · · · · · · · · · ........';).\1-,~":-c.~:. •.~
--· lli.-\ l ~ - - -
\ 2 }'c <y,~Jo\i? l½\~'..\\"t-,l&:::lt
I ·······" ·~ (',:c~... r.~~ ~IX\.!'\~~·· · \..<:)~\l),,\\\h . .
\ -~ ~ ' . \ S ' o ~ 1
 - '1
(bl (il The World Trade Organisation (WTO) ,st e gree with this staternent?
. h ,nain reason for the growth of 1n Janua ,

producti,
!dent
(1·1·) alum
international trade. To what extent do you a
Explain your reasons. (6)

I _ _ _ _ __~, c:i 1~ \µ\ civ~"\\l-!,\ o"I Q'<O ti\~ ~ b - - _ __ \;:

\ --- --- ~~~'>:<j J~\:'.Y'~ )c-a _~1~""- - '-i ~ -~ - - - -- __. -------- --
\ ' '}¼~-1)\\,':\ tm.. ll::'t!}~J - - --~-~ -~ <\,>."\~ --- - \)-'.,.\,\i-

_____,~\i:'X) : ___ -------- - - - - ----- ------ -----------

I.
I·::·--= ~ = ~---::_: ::·_::·'
I ------·:: :: - \ ~ - \ - ~ ~ - ;-··:_· _--------___:.
0+-4,t__\)... ! -\1,'\.''.C:'"' --- --- - - - - - - - - --
a.,,~~~ ~Jt):l\:\J"1~Y -
...... . ::----- ..

···· · • ·· ·· • " " ""'""' """''" " " " """"" " ''" ' ' '" '" '
············ ··· ··········· .. .... ... ..... . ·· ····· ···· ···•···· ·•·············· ··· ···--···········
{c) (i) Com
exch
\ case

I
I Cu r
th e

Inti
-·· ····· ········· ........................ .

I ... . . ..... ..... ....... . .......

. ............................. ...
 January 2017 the USA complained to th W
In duction of aluminium. e TO that China was subs·1d· .
--------------- -· -
pro 1s1ng the
··i identify and explain two reasons why the USA .
(11 aluminium producers were being subsidised. might be worried that Chinese

·••· ·········· ······· ··•·· ························ ·············· ··················· ············•··· ···············•··········

··· ·· ··· ··-,.-·-···•········· ············••·-•····· ·•········-····

\)~(h~Q\ (»')~ ' ' ' - ---

· ·· ••"··:. \.~. . . . k.9.~%. . ... . . .b.~. .±:\(JJ\\~. ~M)!'
... '. . . . . . . . ih.\.) ....~9¼~.....~ •. ...... ~,"~\ .......M .1 ~~J~ru. ~-·-
...... ... .. ... .... .... •·· ...... ...... ............. .. ···••···· ··· " ' "' ' '' ' '' '''''''"''' '' ' ' '"' ················ ···· ········• "'' ""' "

··················· ...... ....... ....... .

. ..... . .. . ··• . . . . . .. .. . ....... . . · · • ···• .. ·f· ·· • • · · · · • •"'" ' ' ""'' '' ' '' " '''

....... ..: ......................... .. . .... ...... .... .... .... ...... ... ..... ·····•·· ···'· ... ·•····r··· ····· . .. . . . ... .... . . ....

.. .. . ..... . .
... . . ..... . ····••"··· .
· · · ................................................................... · · ht affect the
. . how each change m,g . ach
(i) Complete Table 4a below to indicate l'vl in the appropriate box in e
llar Put a cross IDI
exchange rate of the US dO ·
case.

__.--- r-

----
---
APPRECIATE
1
i
DEPRECIATE

-
I

1
- - - - - · --

The demand for imports increa

-
------ ses in the
__ --
-·-···
--
0
I

-
~-·-1--- ,-
1 USA ------ 0 - j
--------h ·a-'l·u•a.e of
C- - - - - pectt e f II I
v.

j
~-------~
1
urrency speculators ex continue I
0
the US dollar to fall and to ------ ffJ l- I
. the USA -- --·-
--
Interest rates increase in ______
, - ------ Table 4a
 -
- -- -
- · -------- ---·---
____.
the planne
- d Trans-Pacific Part nership
. hdreW frorn
In January 2017 the USA wit .
(TPP), a free trade agreernent. ood for an economy? Explain your
. free trade 9
(ii) To what extent ts increasing
answer. {5)

m.,~ ,~ bi~\\li)t' ~~~f.)9~ @J.,Qt6~~~

· 1- · ··· ·· · ··· 0~~{}-~ lc~1ttt~.
\J".t:~;
t,_()~~\~QY.~ ·~ ···'. ..

..-
.. . ~ · · ·~\Q~~
~MQO'!:~~\~ ~ill\~()~ ~'\!' \l'<i)~~L __
~ \.,._,~· :\~~Q'M.IQ:)~9-cl~~.11:J. ··-
· ···· k ~ ~~'\,~~~'.:1 . :..J'i\Q\!,.,Jr'f.v,:>~.Ul:!':,. \Jv:.~~~ ft -.
. ... . .... : ~ \.,\~ L~ .... [\~~-\1\lf (J.,,_\\.~.l'-:c.:fu. _
~\~ : ~:'.~Ji)~tt\t:ti:t_
' ~k\v\~, ~ Jl\:: ls:.AL~ Ooi», 1\ n ,,,,r, .h QI') L

· ···· · · · · ··· · · \l:\k.~~'I; .. lrU.~'lll\ i ••·· · ···········"\Y<\'~ -

. . . .. .. . . ················· ·········• · · u······· · · · · · · · · · · · · · · · · ~ · ~lli1\~'N1tf\. .' .-
.................... .......... . ..... . ... . ... . . .................... ... . ···· ·· .. .... ..... .. .. ..
, .. ... ............ . .... ... ... ........... ..... ................ ........... . . .... ..

.......... ., ... , ... ........ . ................. . .... . . ................... ······ ... , ........
·········"·"·" ' . .. ' . ' '
···· ·· ••o, .•.. . •· ··•• · .... •··· .. .......... •··· ···"·""·"•·"· .... .................... .

........ ..............
.......... . ..........
··· ············ ·· ··· ··•·
.......... . ... .. ... ... . ........ .... ... .. ..
.......... ·• · ................ ................ ........

.......... ......................
.. ..... .. .......... .. ..... .. ....... ........... .. .......................... .. ... ........... , .

........
······ ............. ..... ..... ..... ... .. , ..
........ .. .. ........................ ..... ....... ........... .

..... ... ... .... . .... ·•············

....... .. .... ..... ....
........ .............. ......... ...............

.. ...... . ..... .. .. .
........ ... .... ........
''
.
........ .. ....................... .. .
•' ,,

··· ···• • ... ,..

..... .. .... ... ........ ,
.............. , .. ... ........ .... . .... ......... .. ......... ......... .. ......... ...
······

.........