Partnership Firms

Definition

According to the Partnership Act 1890, “Partnership is a voluntary association of people (from two to twenty) which is formed to carry on business with the view to make profit”. Partnerships are commonly found in farming, building and in the professions like law, accountancy etc.

Advantages

v  More capital can be raised

v  Less legal formalities. It requires a contract called ‘Partnership Deed’

v  More efficient management can be formed

v  There can be limited partners

Disadvantages

v  Ordinary partners have limited liability

v  Partnerships are usually unstable and affects continuity

v  Limited scope for expansion

Difference between Sole Traders and Partnerships

Sole Trader	Partnership Firms
v  Sole Proprietorship is a one man business v  Profits belong to the proprietor v  Losses can not be shared v  Division of labour is not possible v  It requires no agreement v  Effective control over the business v  Quick decisions can be taken v  Decisions are often hasty	v  It is owned by 2-20 partners v  Profits are shared between partners v  Losses can be shared between partners v  Division of labour is possible v  It requires an agreement /deed v  No one partner has complete control v  It takes more time to make decisions v  Decisions are more reliable

Consumer Spending Saving and Borrowing

Consumer Spending 

1. Who is a consumer?

The person who uses the goods and services for final consumption

2. What is spending?

Paying out money in buying or hiring goods and services

3. What factors influence Consumer Spending?

• Disposable Income (Take Home Pay) 
• Income Tax (A tax on consumer income) 
• Wealth (Those assets with a money value) 
• Inflation (A persistent rise in the price level) 
• Rate of Interest (Cost of Borrowing, Reward for Saving) 
• Social Security benefits (Aid to low-income members) 
• Borrowing (Obtaining money as a loan) 
• Age Composition of household population 

4. On which items most lower-income earners spend a higher proportion of their income?

They spend on necessities like food, clothing etc.

5. On which items most higher-income earners spend a higher proportion of their income?

They spend on luxury items like buying motor cars, spending holidays abroad etc.

6. Why do young people spend more money?

To set up homes and bringing up their children.

7. Why do middle-aged people spend less money?

To save more in preparation for retirement.

8. Why do old-aged people spend more money?

They spend on health care by withdrawing their savings

Consumer Saving 

9. What is meant by the term ‘Saving’?

It refers to that part of income that is kept aside for future use

10. What are the three types of Saving?

• Increase in stock of cash 
• Increase in bank deposits 
• Increase in stocks or shares 

11. What factors influence Consumer Saving?

• Disposable Income 
• Social attitude towards saving 
• Preparation for the future 
• Purchase of durable goods 
• Rate of Interest 

12. Describe how and why different income groups have different expenditure patterns?

Those with lower income spend a higher proportion of their income on necessities. They are not able to save due to lower earnings. But those earning more income are not only able to spend on both necessities and luxuries, but also to save for future use.

Consumer Borrowing

13. What is called borrowing?

Obtaining money as a loan

14. What factors affect consumer borrowing?

• Rate of Interest 
• Availability of credit facilities 
• Demand for consumer durables

Costs of Production

Meaning

Cost of production refers to the prices paid by the firm in order to obtain the materials and services required for the production process. 

There are two types of costs.

1. Variable Costs

• It refers to the cost of variable factors 
• It changes with output 
• There is no variable cost at zero output 
• It is also known as Direct Costs 
• Examples include Electricity bill, cost of raw materials etc. 

2. Fixed Costs

• It refers to the cost of fixed factors 
• It does not change with output 
• It occurs at zero output 
• It is also known as Indirect Costs 
• Examples include Rent for the factory, Insurance Premium etc. 

Total Cost 
The sum of variable cost and fixed cost forms the Total Cost.
Total Cost = Variable Cost + Fixed Cost

Marginal Cost 
It is the change in the total cost brought about by changing the output by one unit.

Average Total Cost 
It is the cost per unit of output.

Average Fixed Cost 
It refers to the Fixed Cost per unit of output.

Average Variable Cost 
It refers to the Variable Cost per unit of output.

Here is How You See the Maldives from the Sky

Topic 07: Distribution

Introduction 

• Distribution 
• Advertisement 
• Purpose of Advertising 
• Advantages of Advertising 

Types of Advertisements 

• Informative Advertising 
• Persuasive Advertising 

Media of Advertising 

• Television 
• Radio 
• Newspaper and Magazines 
• Posters 
• Circulars 
• Exhibitions 
• Own Fleet Displays

Introduction to Costs of Production

Cost 

Cost refers to the amount of money spent by the firm on the goods and services which are required for the production process. 

Revenue 

Revenue refers to the income received by the firm for its goods and services. 

Variable Factors 

Variable Factors refer to the factors which change with output. Examples include Labour, Raw materials etc. 

Fixed Factors 

Fixed Factors refer to the factors which do not change with output. Examples include Factory, Machinery etc. 

Short Run 

It is a period of time over which at least one factor remains fixed in supply. 

For example; a table making factory consumes more raw materials and electricity, but not the premises, to increase its output. 

Long Run 

It is a period of time over which all the factors of production changes in supply. 

For example; a table making factory extends the carpentry to increase the capacity to meat increased demand.

Topic 08: Size of Firms

Growth of Firms

• Meaning of firm
• Reasons for growth and ways to grow
• Integration and its types

Economies of Scale 

• Meaning
• Relationship with average cost
• Types of Economies of Scale (internal and external)

Diseconomies of Scale 

• Meaning
• Types of Diseconomies of Scale (internal and external)

Survival of Small Firms 

• Measuring Size
• Reasons for survival

Survival of Small Firms

How do we measure the size of firms? 

The size of the firm is measured on the basis of the following criteria. 

1. The number of employees 
2. The value of the capital employed 
3. The value of the output 
4. The market share etc 

Reasons for the survival of small firms 

1. Size of the market 

Small firms do well if the market for the product is relatively small. The reasons that keep a market small in size are: 

1. people’s preference of “something different” which cannot be produced under mass production, 
2. some services and products cannot be standardized so that it can easily be provided by small firm, 
3. people need individual attention for certain services like hair dressing provided by small firms, 
4. geographical factors limit the market. Small firms are successful in that case, and 
5. most of the expensive goods have a small market as their demand is less. Eg; sports cars, luxurious yachts etc. Again small firms succeed. 

2. Specialist producers and distributors 

Dis-integration helps the small firm to prosper under manufacturing industry. It has an assured market to provide particular parts to the larger firms. 

Eg. Seat belts and rubber tire for the motor car industry. 

3. Co-operation between small firms 

Co-operation between small firms help them to survive and enjoy economies of scale as larger firms do. It is made possible by joint purchase inputs, joint ownership of research laboratories etc. 

4. Technical factors 

There are certain units of capital equipment that are relatively small and can be used only by small firms. For example; knitting and sewing machines used in a clothing industry. 

5. Flexibility 

Small firms can easily respond consumer demands and can adapt to changing business conditions. 

6. Government assistance 

In most countries, governments provide grants, subsidies and tax exemptions for the growth of small firms. These factors lead to survival of small firms in the rapidly changing business world.

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Former Walt Disney sculptor Chuck Williams raised USD 57,000 in just a week against the USD 34,000 target.

He turned to Kickstarter in order to crowdfund mass production of 45th US President Donald Trump's naked troll doll. 

After Trump took Oval Office, US streets are hit by daily protests against him due to his extremist and radical policies. 

Trump Profile:

Donald John Trump is an American businessman, television personality, politician, and the 45th President of the United States.

• Born: 14 June 1946 (age 70 years), Jamaica Hospital Medical Center
• Height: 1.88 m
• Party: Republican Party
• Spouse: Melania Trump (m. 2005), Marla Maples (m. 1993–1999), Ivana Trump (m. 1977–1992)
• Children: Ivanka Trump, Tiffany Trump, Eric Trump, Donald Trump Jr., Barron Trump

What is Crowdfunding:Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people. Crowdfunding is a form of crowdsourcing and of alternative finance. In 2015, it was estimated that worldwide over US$34 billion was raised this way.

Although the concept can also be executed through mail-order subscriptions, benefit events, and other methods, it is now often performed via Internet-mediated registries. This modern crowdfunding model is generally based on three types of actors: the project initiator who proposes the idea and/or project to be funded, individuals or groups who support the idea, and a moderating organization (the "platform") that brings the parties together to launch the idea.

Crowdfunding has been used to fund a wide range for-profit entrepreneurial ventures such as artistic and creative projects, medical expenses, travel, or community-oriented social entrepreneurship projects.

Growth of Firms

What is a firm? 

A firm is a unit of management trading under a particular name. It is a decision making production unit. An industry is made up of all those firms producing the same commodity. 

Why do firms grow? 

Firms try to grow in size for several reasons: 

1. To enjoy economies of scale: As the firm expands, it can reduce its average cost of production. 
2. To obtain a larger market share: A larger firm can exercise more control over price and output in the market. Large firms can also enjoy monopoly power. 
3. To achieve greater security: Firms can achieve greater security by extending the market for their products and producing a wide range of goods. (It is known as ‘Diversification’.) So that they can face the fluctuations in demand and seasonal variations. 

How do firms grow? 

Firms grow through diversification and integration. Diversification refers to the extension of the product range and its markets. 

What is integration? 

Integration refers to joining together of two or more firms. There are three types of integration. 

1. Vertical integration: 

It refers to joining together of two or more firms in different stages of production. 

1. Vertical integration backwards occurs when a firm merges with its suppliers. For example; a tea factory takes over tea plantation. 
2. Vertical integration forwards occurs when a firm merges with its market outlets. For example; a petrol company takes over a number of petrol stations (ie. Retailers) 

2. Horizontal integration: 

It refers to joining together of two or more firms producing similar goods. For example; integration of two or more motor car companies. 

3. Conglomerates (Lateral integration): 

It refers to joining together of two or more firms producing entirely different products. For example; a sugar manufacturer takes over a motor car company.

Measuring the National Income

Definition 

National Income refers to the total money value of the output of goods and services produced by the factors of production owned by a particular country over a one-year period. 

Methods of Measuring National Income 

The National Income of a country can be measured in three ways. 

1. The value Added Method/Output Method 

It measures the total value added by each economic activity in the production of country’s annual output of goods and services. 

The sum of value added at each stage of production is called as GDP. On to it is added the NIPA (including net profits, rent, dividends etc) to arrive at GNP. Depreciation of country’s stock of capital is deducted form the GNP to give NNP/National Income. 

2. The Income Method 

It measures the total of incomes (wages and salaries, rent, interests etc) earned by the factors of production used in the production of country’s annual output of goods and services. But, it does not include the transfer payments such as pensions and social security benefits. The sum of factor incomes is called GDP onto it is added the NPIA to arrive at GNP. Depreciation of country’s stock of capital is deducted form the GNP to give NNP/National Income. 

3. The Expenditure Method 

It measures the total expenditure on the consumption of goods and services. 

We spend on Imports and we earn from Exports. Similarly, Taxes raise the value of expenditure and Subsidies reduce the value of expenditure. 

Therefore, to reach a correct value measure of GDP; 

• reduce the value of Imports 
• add the value of Exports 
• reduce the value of Taxes and 
• add the value of subsidies. 

NPIA should be added to GDP to arrive at GNP. Depreciation of country’s stock of capital should be deducted form the GNP to give NNP/National Income. 

It is worth noticing that all three methods give the same figure as all three methods measure the same. 

Reasons for Measuring the National Income 

1. It provides the government with necessary economic information: National Income provides the government with the following information. 

• The pattern of national expenditure 
• The importance of different sectors of production 
• The pattern of income distribution 

2. It helps the government in the formulation of National Policies 

3. It is used to make international comparisons of living standards 

National Income and General Welfare 

Changes in the National Income are not always a good indicator of general prosperity. 

1. Fast population growth might lead to a lower PCI 
2. Rise in NI does not always reduce the gap between the poor and the rich 
3. A rise in NI brought about by a higher Inflation does not increase physical output 
4. NI might be higher due to long hours of work at the expense of leisure 
5. A rise in NI also increases Social Costs 
6. The calculation of NI does not include Black Market transactions as they are not recorded. 

Per Capita Income 

Per Capita Income refers to the Average National Income. PCI = Total National Income / Total population. PCI indicates the country’s general prosperity. 

The Per Capita Income expressed in a common currency is the most commonly used indicator in comparing the living standards in different countries. 

The following are some problems associated with measuring National Income in terms of PCI. 

PCI is an average figure. It does not tell anything about; 

• the equality in the distribution of income and wealth 
• the types of goods and services produced by the factors of production 
• the Social Costs (like pollution) incurred due to economic activities

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President Donald Trump vowed this week to “do something” about the “cunning” media who he’s called “the enemy” of the American people and now he has barred these media outlets from the White House briefings.

1. CNN
2. NY Times
3. LA Times
4. Politico
5. The Hill
6. Buzzfeed
7. Daily Mail
8. BBC

General Equilibrium Theory

What is the 'General Equilibrium Theory'
General equilibrium theory, or Walrasian general equilibrium, attempts to explain the functioning of economic markets as a whole, rather than as individual phenomena. The theory was developed by the French economist Leon Walras. It stands in contrast with partial equilibrium theory, or Marshellian partial equilibrium, which only analyzes specific markets.

Walras developed general equilibrium theory to solve a much-debated problem in economics. Up to that point, most economic analyses only demonstrated partial equilibrium — the price at which supply equals demand and markets clear — in individual markets. It was not yet shown that equilibrium could exist for all markets at the same time.

Uses of General Equilibrium Theory:
General equilibrium theory tried to show how and why all free markets tended toward equilibrium in the long run. The important fact was that markets didn't necessarily reach equilibrium, only that they tended toward it. As Walras wrote in 1889, “The market is like a lake agitated by the wind, where the water is incessantly seeking its level without ever reaching it.”

General equilibrium theory builds on the coordinating processes of a free market price system, first widely popularized by Adam Smith's “The Wealth of Nations” (1776). This system says traders, in a bidding process with other traders, create transaction by buying and selling goods. Those transaction prices act as signals to other producers and consumers to realign their resources and activities along more profitable lines.

Walras, a talented mathematician, believed he proved that any individual market was necessarily in equilibrium if all other markets were also in equilibrium. This became known as Walras’ Law.

Assumptions:There are many assumptions, realistic and unrealistic, inside the general equilibrium framework. Each economy is considered to have a finite number of goods in a finite number of agents. Each agent has a continuous and strictly concave utility function, along with possession of a single pre-existing good (the “production good”). In order to increase his utility, each agent must trade his production good for other goods to be consumed.

There is a specified and limited set of market prices for the goods in this theoretical economy. Each agent relies on these prices to maximize his utility, thereby creating supply and demand for various goods. Like most equilibrium models, markets lack uncertainty, imperfect knowledge or innovation.

Alternatives to General Equilibrium Theory:
Austrian economist Ludwig von Mises developed an alternative to long-run general equilibrium with his so-called Evenly Rotating Economy (ERE). This was another imaginary construct and shared some simplifying assumptions with general equilibrium economics: no uncertainty, no monetary institutions and no disrupting changes in resources or technology. The ERE was designed to illustrate the necessity of entrepreneurship by showing a system where none existed.

Another Austrian economist, Ludwig Lachmann, argued the economy is an ongoing, non-stable process replete with subjective knowledge and subjective expectations. He argued that equilibrium could never be mathematically proven in a general or non-partial market. Those influenced by Lachmann imagine the economy as an open-ended evolutionary process of spontaneous order.

Source: Investopedia

Topic 23: The National Economy

Introduction to National Income

• Introduction
• Gross Domestic Product 
• Gross National Product 
• Net National Product 

National Income 

• Definition 
• Methods of Measuring the National Income 
• Reasons for Measuring the National Income 
• National Income and General Welfare 

The Circular Flow of Income 

• Definition 
• A Closed Economy 
• A More Realistic Model 
• Injections 
• Leakages 
• Equilibrium 
• The Government Influence on the CFI 

Economic Policy 

• Definition 
• The Economic Objectives 
• Instruments of Economic Policy 
• Confliction in Objectives

Cost, Revenue and Profit

Cost 

Cost refers to the amount of money paid out by the firm in obtaining resources required to carryout production. 

Revenue 

Revenue refers to the money received by the firm for its goods and services. Total Revenue is the total amount of money received by the firm. Average Revenue refers to the revenue received per unit of output sold. 

Profit 

Profit is that part of revenue which remains after deducting all costs. 

Profit = Revenue – Cost 

Break-Even Point 

Output	Total Cost	Selling Price	Total Revenue	Total Profit	Profit/Loss
0	100	----	----	-100	Loss
1	300	200	200	-100	Loss
2	450	200	400	-50	Loss
3	600	200	600	0	Break Even
4	700	200	800	100	Profit
5	775	200	1000	225	Profit
6	800	200	1200	400	Profit

It is the point where total revenue equals total cost. At Break-Even Point there will neither be a profit nor a loss.

Economies of Scale

Economies of Scale 

Economies of scale refers to the fall in long run average cost of the firm due to expansion of its scale of production. 

This is concerned with monetary or economic benefits enjoyed by a firm when it expands. Firms enjoy economies of scale when the output increases more than the percentage increase in inputs (This is also called increasing return to scale). For example; a firm increases its inputs by 10% and the output by 15%. 

Economies of Scale and Average Cost 

Average cost refers to cost per unit of output. It can be calculated by dividing the total cost by output. The table opposite makes it clear.

	Small firm	Large firm
Total cost	36	48
Output	4	8
Average cost	9	6

As per this example; 

As the firm expands, its cost increased by 33.3% and output increased by 50%. Therefore the Average Cost has fallen from $9 to $6. 

This fall in long run average cost is referred to as returns to scale / economies of scale. 

• Diseconomies of scale arises when the expansion of the firm leads to a rise in long run average cost. 
• Optimum size refers to a situation where a firm operates at the lowest possible average cost. 

Types of Economies of scale 

There are two forms of economies of scale. 

1. Internal Economies of Scale 

Internal economies of scale refers to the advantages enjoyed by the firm individually, independent of other firms in the industry when it increases its scale of production. The following are the important types of internal economies of scale. 

a) Technical economies: 

It arises due to the difference in the techniques of production of large firms. Reasons for technical economies of scale are given below; 

• The firm can employ the technique of division of labour (ie. Specialization). 
• The firm can acquire and use large capital equipments. 
• The firm can use ‘waste’ products to produce by-products. 
• It can spend large sums of money on research and development. 
• It can also achieve technical economies of scale by full utilization of machines & equipment. 

b) Marketing economies: 

Large firms can achieve marketing economies for the following reasons; 

• They make bulk purchases raw materials at lower prices (due to trade discount). 
• They can employ experts in marketing and other departments. 
• Their unit cost of advertising is low (because they advertise varieties of goods at cheap rates. 
• Large firms enjoy preferential treatment regarding supply of raw materials & in transportation. 
• Handling and packaging costs of large firms are also very low. 

c) Financial economies: 

Large firms can easily raise capital and arrange loans and overdrafts at favorable interest rates from banks and other sources. 

d) Risk bearing economies: 

• They can spread the risk by producing variety of goods (diversification) 
• They can extend the market to overseas countries. For example; Coca Cola Company. 

2. External Economies of Scale 

External economies of scale refers to the benefits available for an individual firm due to the expansion of the industry as a whole. For example; Tourism industry in Maldives. 

Following are the important types of external economies of scale a firm can enjoy; 

1. Supply of skilled labour: Localization and expansion of the industry make the labour force of the region more skilled. Newly entering firm has not to spend on training. It leads to lower average cost. 
2. Dis-integration: As the industry grows different firms specialize in different works of the whole industry. (This separation of the industry is referred to as dis-integration). As a result all firms can achieve internal economies of scale. At the same time individual firm can achieve external economies of scale as they can obtain the products of the industry at lower prices. 
3. Subsidiary industry: When a large industry is established in an area many subsidiary industries are established themselves to cater the needs of all firms. For example; fishing industry and boat building. 
4. Specialized services: When industries are localized in an area the firms providing specialized services in that locality grow to facilitate the industries and further lower the average cost. 

The Circular Flow of Income

Definition 

The Circular Flow of Income (CFI) refers to the continuous circulation of income and expenditure among the economic agents. 

A Closed Economy 

The following illustrates the CFI through a simple model of an economy, which excludes the Government Sector and Foreign Trade Sector.

1. Households provide firms with land, labour and capital 
2. Firms employ the factors of production and make payments to households in the form of rent, wages and salaries, interest and profits. 
3. Households use their income to buy goods and services form firms. 

A More Realistic Model 

The following diagram illustrates the CFI in an economy with Households, Firms, the Government and Foreign Trade Sectors. 

Remember, the four sector model includes the income withdrawn from and injections into the economy. 

The following assumptions will help you to study the realistic model. 

1. An economy not only consists of Households and Firms, but also includes the Government 
2. Countries also take part in trade with other countries 
3. Firms often invest in the production of capital goods 
4. Households do not always spend all their income but also save a proportion of their income 

Injections 

The addition of income to the CFI is known as Injections. Injections take the form of; 

1. Investment (I) 
2. Government Spending (G) 
3. Exports (X) 

1. Investment (I) 

Investment of firms in the production of capital goods is an addition to the CFI. 

2. Government Spending (G) 

Government is the major buyer and employer in the economy. It spends on goods and services and salaries and wages. 

Majority of income is injected into the economy from the government. 

3. Exports (X) 

Domestic households and firms receive income by exporting goods and services abroad. It is an injection of income into the economy. 

Leakages 

The outflow of income from the CFI is known as Leakages. Leakages take the form of; 

1. Savings (S) 
2. Taxes (T) 
3. Imports (M) 

Savings (S) 

Saving refers to that part of consumer income that is kept aside for future use. It is a leakage as it does not come into the CFI in the form of household spending. 

Taxes (T) 

Taxes levied on income and spending is a withdrawal form the CFI. 

Imports (M) 

Import of goods and services is followed by an outflow of currency. Therefore, it is a leakage. 

Equilibrium 

Equilibrium refers to a state of balance. The national Income is said to be in Equilibrium when Injections are exactly equal to Leakages. Therefore, (I+G+X) = (S+T+M). 

When (I+G+X) > (S+T+M), the value of CFI increases leading to a rise in employment and National Income. 

When (S+T+M) > (I+G+X), the value of CFI decreases leading to a fall in employment and National Income. 

The Government Influence on the CFI 

The changes in the value of CFI are a clear indicator of government’s preferences and economic policies regarding; 

1. pattern of expenditure 
2. income distribution 
3. the level of employment etc 

In order to change the value of the CFI, the government uses Fiscal and Monetary policies. 

For example, when the government wishes to increase the level of employment, it can either; 

1. increase its spending and investment or 
2. reduce saving and taxation. 

But, in this case, an increase in the value of CFI pulls up Inflation due to the rise in aggregate demand. Therefore, the government either; 

1. reduces injections (Investments, Government Spending and Exports) or 
2. increases Leakages (Savings, Taxes and Imports)

These MPs Voted FOR Foreign Freeholds in Second Amendment to Constitution

On 22nd July 2015, the Maldives parliament amended the constitution to authorise foreign ownership of land or freeholds in the Maldives with overwhelming support of 70 votes in favour, only a day after the amendments were introduced to the People’s Majlis.

11 MPs of the main opposition Maldivian Democratic Party (MDP) and 09 MPs of the Jumhooree Party (JP) also voted in favour of the unprecedented changes.

The amendments allowed foreigners who invest more than US$1 billion to purchase land within the project site. At least 70 percent of the area when the project is completed must also be reclaimed land.

The constitution previously prohibited foreign ownership of any part of Maldivian territory, but allowed leasing of land for up to 99 years.

Here is how MPs voted.

These 11 MPs from Opposition MDP Voted YES.

Abdul Bari Abdulla	MDP
Abdul Gafoor Moosa	MDP
Abdulla Shahid	MDP
Ahmed Marzoog	MDP
Ali Azim	MDP
Ali Nizar	MDP
Ibrahim Naseer	MDP
Ibrahim Shareef	MDP
Mohamed Abdul Kareem	MDP
Mohamed Nazim	MDP
Moosa Manik	MDP

It was reported by local newspapers that MDP made a deal with the government to vote for the amendment expecting to release President Nasheed from jail as part of the deal.

These 09 MPs from Jumhooree Party voted YES.

Abdulla Ahmed	JP
Ahmed Mubeen	JP
Faisal Naseem	JP
Hussain Mohamed	JP
Hussain Shahudhee	JP
Ibrahim Hassan	JP
Ilham Ahmed	JP
Moosa Nizar Ibrahim	JP
Qasim Ibrahim	JP

These 06 MDA MPs Voted YES.

Hussain Areef	IND (Later joined MDA)
Ahmed Amir	MDA
Ahmed Siyam Mohamed	MDA
Ali Mauroof	MDA
Mohamed Ismail	MDA
Umar Hussain	MDA

These 44 MPs from ruling party Voted Yes.

Abdul Latheef Mohamed	PPM
Abdul Raheem Abdulla	PPM
Abdulla Khaleel	PPM
Abdulla Maseeh Mohamed	PPM
Abdulla Rifau	PPM
Abdulla Sinan	PPM
Abdulla Yamin	PPM
Ahmed Asad	PPM
Ahmed Azhan Fahmy	PPM
Ahmed Faaris Maumoon	PPM
Ahmed Nihan Hussain Manik	PPM
Ahmed Rasheed	PPM
Ahmed Rasheed Ibrahim	PPM
Ahmed Saleem	PPM
Ahmed Shiyam	PPM
Ahmed Thariq	PPM
Ali Arif	PPM
Ali Fazad	PPM
Ali Mohamed	PPM
Ali Saleem	PPM
Ali Shah	PPM
Asma Rasheed	PPM
Hassan Mufeed Abdul Gadir	PPM
Hussain Manik Don Manik	PPM
Hussain Mohamed Latheef	PPM
Ibrahim Didi	PPM
Ibrahim Falah	PPM
Ibrahim Riza	PPM
Ibrahim Shujau	PPM
Jameel Usman	PPM
Jaufar Dawood	PPM
Mohamed Abdulla	PPM
Mohamed Ali	PPM
Mohamed Ameeth Ahmed Manik	PPM
Mohamed Hussain	PPM
Mohamed Musthafa	PPM
Mohamed Nasheed	PPM
Mohamed Shahid	PPM
Mohamed Waheed Ibrahim	PPM
Muaz Mohamed Rasheed	PPM
Nazim Rashaad	PPM
Riyaz Rasheed	PPM
Saud Hussain	PPM
Saudulla Hilmy	PPM

Only These 14 MPs voted NO.

Anara Naeem	ADP
Ahmed Mahloof	IND
Abdulla Riyaz	JP
Ali Hussain	JP
Ahmed Nashid	MDP
Eva Abdulla	MDP
Fayyaz Ismail	MDP
Ibrahim Mohamed Solih	MDP
Imthiyaz Fahmy	MDP
Mariya Ahmed Didi	MDP
Mohamed Aslam	MDP
Mohamed Falah	MDP
Mohamed Rasheed Hussain	MDP
Rozaina Adam	MDP

Statistics: Majlis.gov.mv