Category: 2019 D07 LEc

Q. Land is an important factor of production in the economy. a) Describe four (4) characteristics of land as a factor of production. (12 marks) b) Explain why land is Read More …

Q. Urbanization can have effects to the economy, society and the environment. a) Explain two (2) positive and two (2) negative impacts of urbanization to the economy. (12 marks) b) Read More …

Q. There are various reasons for the emergence of inner-city decay. This urban decay could bring some negative implications to the urban area. Nevertheless, the development of a new city Read More …

Q. Markets generally operate through the law of supply and demand to achieve efficiency in the economy. However, the housing market is not an efficient one due to the imperfect Read More …

Q. Redevelopment occurs when the present value of the current use is less than the capital value of the proposed site. By using an example of residential property, a) Explain Read More …

Q. Location and accessibility are amongst the key factors in the determination of land rent. Explain, a) basic features of classical rent theories and state the factors that need to Read More …

Q. Urban agglomeration economy embodies a system of clustering of firms and employment market. a) Explain why firms are particularly interested to have their businesses in the urban centre. (10 Read More …

Q. One of the economic approaches in solving urban transportation problem is pricing. Discuss the meaning of “pricing is part of the problem and the solution”. Give appropriate examples to Read More …