Category: 2014 D03 Eco

Q. In the context of international trade, explain the followings:- a) Tools of protectionism. (10 marks) b) Balance of payment. (5 marks) c) Exchange rate. (5 marks) (20 marks, 2014 Read More …

Q. a) Elaborate the different types of money and its functions. (4 marks) b) Using appropriate examples, differentiate the followings:- i) Central bank and commercial banks. (8 marks) ii) Government Read More …

Q. a) Define inflation and discuss the measures implemented by the government to control inflation. (15 marks) b) “There are always winners and losers in inflation”. Explain. (5 marks) (20 Read More …

Q. a) Explain the following terms in the context of national economy:- National income Gross National Product Indirect taxes Subsidy ( 3 marks each) b) Explain any one (1) approach Read More …

Q. a) Distinguish the following types of market structures. Monopoly (4 marks) Monopolistic competition (4 marks) b) Show the equilibrium position of a firm and industry under perfect competition in Read More …

Q. a) With the aid of diagram, discuss the relationship between factors of production and the law of diminishing returns. (15 marks) b) Using appropriate examples, explain the meaning of Read More …

Q. a) Illustrate how prices are determined by the free forces if demand and supply. (5 marks) b) Show the different types of elasticity of demand. (5 marks) c) Necessities Read More …

Q. a) Explain the basic economic problems that every economic system must resolve. (10 marks) b) Do you agree with the statement that a “mixed economy” is the most suitable Read More …