Category: 2013 D03 Eco

Q.Explain the impact of the following due to the increase in rate of inflation:- i) Price level of goods and services. (4 marks) ii) Value of money. (4 marks) iii) Read More …

Q. a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt. Explain: i) Objectives of Fiscal Policy. (5 marks) ii) Expansionary Fiscal Policy. Read More …

Q. a) The circular flow of income shows the economic interaction between the different sectors in the economy. It also involves the income received and income payments made by different Read More …

Q. a) Explain the following terms in the context of national economy:- i) Gross Domestic Product (GDP). (3 marks) ii) Primary sector. (3 marks) iii) Secondary sector. (3 marks) iv) Read More …

Q. a) Explain the characteristics of the following market structure. Support your answer with examples. i) Perfect competition. (4 marks) ii) Oligopoly. (4 marks) b) Differentiate monopoly and monopolistic competition Read More …

Q. Explain the following terms:- i) Elasticity of demand. (6 marks) ii) Equilibrium market price. (6 marks) iii) Factors of production. (8 marks) (20 marks, 2013 Q3) A. i) Elasticity Read More …

Q. a) Explain the statement “demand is a function of price”. (5 marks) b) Explain the concept of opportunity cost with reference to the production possibility curve. (15 marks) (20 Read More …

Q. a) Define economics and clarify why we should study economics? (5 marks) b) Explain the advantages and disadvantages of the following economic systems:- i) Central command system. (5 marks) Read More …