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 …
Tag: 1.3
Arguments for and against Protectionism
Q. What are your arguments for and against Protectionism? A.Arguments for Protectionism Fledging industry argument: Certain industries possess a possible comparative advantage but have not yet exploited economies of scale. Short-term Read More …
Tools of Protectionism
Q. In the context of international trade, explain the followings:- a) Tools of protectionism. (10 marks) (10 marks, 2014 Q8a) A. Protectionism & Barriers to Trade Author: Geoff Riley Last updated: Sunday 23 Read More …
International Trade Q8
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 …
Money types and functions Q7
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 …
Inflation Winners and Losers Q6
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 …
Government Operating Expenditure vs Development Expenditure
Q.Differentiate the two. i) Government Operating Expenditure and Government Development Expenditure. (10 marks, 2012 Q8i) A. Ref:Infrastructure University Kuala Lumpur lecture slides:Macroeconomics (DBF 106): Government Expenditure athttp://www.slideshare.net/bubuadynn/macroeconomic-government-expenditure-comic A good comparison Read More …
Government tariff and quota Q8
Q. Differentiate the following. Support your answer with examples. i) Government Operating Expenditure and Government Development Expenditure. (10 marks) ii) Tariffs and Quota as a tool of protectionism. (10 marks) Read More …
Causes of Money Supply to rise
Q. d) Discuss the causes of supply of money to rise in an economy. (8 marks) (8 marks, 2012 Q7d) What causes the money supply to rise? A. Banks choose Read More …
M1 & M2 supply of money Q7
Q.Differentiate between M1 and M2 supply of money. (4 marks) (4 marks, 2012 Q7c) A.This definition of M1, M2 or even M0, MB, M3 and M4 are different measures of Read More …
Types of Money Q7
Q. a) Elaborate four (4) functions of money in an economy. (4 marks) b) Elaborate the different types of money. (4 marks) c) Differentiate between M1 and M2 supply of Read More …
Inflation and deflation, which is worse? Q6
Q.There are always gainers and losers from inflation and deflation. Discuss. Which is more damaging to the economy as a whole and why? (15 marks) (15 marks, 2012 Q6b) A.On Read More …
Inflation vs Deflation Q6
Q. a) Differentiate the meaning of inflation and deflation. (5 marks) b) There are always gainers and losers from inflation and deflation. Discuss. Which is more damaging to the economy Read More …
Monopolistic Competition
Q. a) Discuss the characteristics of the following market structure. Support your answer with examples. i) Perfect competition. (5 marks) ii) Monopolistic competition. (5 marks) (5 marks, 2012 Q4aii) A. Read More …
Why National Income not = GNP Q5
Q. a) What do you understand by the term National Income? Why is it not equal to Gross National Product (GNP). (5 marks) b) Explain any one (1) approach of Read More …
Various barriers to entry in monopoly
Q. b) Monopoly is defined as a market structure where there is only one firm in the industry. For a firm to maintain its monopoly position, there must be barriers Read More …
Adverse Subsidies Examples
Q. Give some bad examples of subsidies which had adversely affected the economy. A. Agricultural subsidies Support for agriculture dates back to the 19th century. It was developed extensively in Read More …
Effects of subsidy
Q.What the negative impacts of subsidy to the economic health of a nation? A.Competitive equilibrium is a state of balance between buyers and suppliers, in which the quantity demanded of Read More …
Types of subsidies
Q. List down four (4) common types of subsidies given out by government of developing countries. A. Production subsidy A production subsidy encourages suppliers to increase the output of a Read More …
Subsidy Q5
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 …