Cameroon GCE A/L June 2018 ECONOMICS 2
SECTION A
- (a) state the assumption of the production possibility curve. (5 marks)
(b) describe the various shapes of the production possibilities curve (15 marks)
- (a) What is meant by price elasticity of supply? (5 marks)
(b) Why is the price elasticity of supply of a good likely to vary over time? (15 marks)
- (a) with the aid of diagram, explain the use of marginal cost pricing by a nationalized industry. (12 marks)
(b) what are the effects of this pricing policy? (8 marks)
- (a) Distinguish between economic rents and transfer earnings (5 marks)
(b) with the aid of diagrams, explain the determinants of the amount of transfer earnings for a factor of production (15 marks)
SECTION B
- (a) Outline importance of national income accounting. (8 marks)
(b) When will an increase in national income NOT lead to an improvement in living standards? (12 marks)
- How has money solved the problems of trade by barter? (20 marks)
- (a) What are the main uses of government expenditure? (10 marks)
(b) Account for the increasing government expenditure in Cameroon. (10 marks)
- (a) with the aid of diagram, explain how the government of a country can maintain the external value of its currency in a fixed exchange rate regime. (10 marks)
(b) What are the demerits of this exchange rate regime? (10 marks)
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April 17, 2019
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August 5, 2019
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November 5, 2019
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November 6, 2019
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