4. Which of the following is a shipping demand variable?
A. The average haul B. The world fleet C. Scrapping and losses
5、What shape does the supply function for ship demand generally take?
A. A horizontal straight line (i.e no increase in price as the supply of transport increases)
B. A line which slopes gently upwards as supply increases
C. A "J" shaped line, initially flat then sloping sharply upwards
6、When discussing the ownership of the world fleet we mentioned "flags of convenience". If a Greek shipowner has his offices in London, but registers his ships in Liberia, which law of the ships subject to?
A. Greek law B. UK law C. Liberian law
7、The parcel size distribution function describes the way shipments of a commodity, for example coal, can be distributed over many different parcel sizes. What factors determine the shape of this distribution for a specific commodity?
A. The desire of cargo shippers to use the different sizes of ships in their fleets
B. Stock levels; economies of scale; and water depth
C. Seasonal factors which mean that the optimum size of ship is often not available at certain times of year
8、What is the main economic purpose of the shipping market cycle?
A. To prevent shipowners making too much profit
B. To provide investment opportunities by making ships cheap (or expensive)
C. To balance supply and demand