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2. Firstly, the firm intends to sell imported second-hand bicycles cheaply to people who do not have transport. The first 10 000 used bicycles imported by Afribike were donated by the British Post Office through a British organization, Recycle. Up to 100 000 used bicycles could be imported every year from suppliers in Denmark, the Netherlands, Switzerland and the United States.

3. Secondly, Afribike is also working with local industry to develop a basic, sturdy utility bicycle. They aim to produce a comfortable bicycle with balloon tyres, specially designed for African conditions. This machine will also be sold at an affordable price.

4. A refurbished bicycle would cost up to R150. There is also a scheme in which somebody could buy a bicycle for as little as R40 plus 10 hours of 'sweat-equity' - during which the buyer learns all about repairing a bicycle.

5. A survey by Saturday Argus has found that there is a definite need for cheap bicycles. Almost all the 300 000 new bicycles sold in South Africa annually are imported, mostly from China, Taiwan and Vietnam. The cheapest new bicycle costs about R500. Bicycles are bought mostly for recreational activities and for school children.

6. The decision to back a bicycle-for-all scheme arose out of a study made in rural areas by the Department of Transport. It was found that many remote areas lacked any form of transport, and some children have to walk 40 minutes each way to and from school.

7. The bicycle is ideal transport for a developing country. It is safe, it is environmentally sound and relatively cheap. After World War II, Germany and Japan pedalled out of poverty on bicycles. The economy of the Far East flourished because its people found cheap and efficient transport on bicycles instead of spending their incomes on cars.

8. "Bicycles are ridden by less than 0,25% of the South African population. We want to increase that to 2,5% - close on a million people - in the next five years," said Mr Justas Élan, Afribike’s chief executive. The Afribike scheme is already under way. Franchises are operating in Kabuli Natal and Midland; one will be opening in Jugulate in February 2001.

For more information, access: w.w.w.afribike.org

Now do the following scanning exercise

To do this QUICK QUIZ you need to scan the passage to see how quickly you can find the information to complete the following sentences. Jot the answers down in the spaces. Time yourself.

1. How many South Africans would Afribike like to put on bicycles in the next five years?

2. How many bicycles did Recycle donate to South Africa?

3. How many bicycles could be imported from suppliers in Denmark, Netherlands, Switzerland and America every year?

4. How much would a refurbished bicycle cost?

5. If you paid R40 for a bicycle, how many hours of training in the sweatshop would you be required to do?

6. How many bicycles are sold in South Africa every year?

7. What does the cheapest imported bicycle cost?

8. How many South Africans (currently) use a bicycle as their main means of transport?

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
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Venny Reply
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information
Eliyee
devaluation
Eliyee
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WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
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Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, English first additional language grade 8. OpenStax CNX. Sep 11, 2009 Download for free at http://cnx.org/content/col11042/1.1
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