cameroon gce june 2017 Economics Paper 2

 

 

1. Study the table below which shows the output of corn;

 

 

Fixed factor(Land)

 

Variable Fact (Labour)

 

Total Product(Kg)

Marginal Product(Kg) Average Product(Kg)
1 0    
1 1 8
1 2 22
1 3 40
1 4 50
1 5 55
1 6 60
1 7  

60

 

 

 

(a)

(b)

(i) Complete the table above by calculating the values for Marginal Product and Average Product.
(8 marks)

(ii) At what level of employment will this farmer experience diminishing returns (2 marks)

State and explain five (5) reasons why despite the existence of large firms, small firms still continue to exist in the economy
(10 marks)

 

 

 

 

(a)

(b)

(i)          Complete the table above by calculating the values for Marginal Product and Average Product.

(8 marks)

 

(ii)           At what level of employment will this farmer experience diminishing returns          (2 marks)

 

State and explain five (5) reasons why despite the existence of large firms, small firms still continue to exist in the economy

 

(10 marks)

(2)

(a ) Define the following terms as used in Economics;

 

(i)         Growing Population

(ii)          Population Explosion

 

(b) State and explain four (4) effects of an Ageing Population.

(c)Explain any THREE (3) reasons why most Camerooninas are migrating from the Rural Areas to the

Urban areas

 

(3  marks) (3 marks)

(8 marks) (6 marks)

 

 

(3)

Price/bottle

(FCFA)

Quantity     Demanded/month

(liter)

Quantity    Supply/month

(liter)

600 2 20
550 4 16
500 6 12
450 8 8
400 10 6
350 12 4
300 14 2

 

(a)  Suppose the price per liter of palm oil is fixed at 550FCFA/liter, calculate the excess supply at this price

(b)  Suppose the government fixed the price/liter at 350FCFA. What name is given to this price1? (c)  State and explain four (4) consequences of such a price

(d)  Explain three (3) roles of the Price Mechanism in a Capitalist Economy

 

 

(4)

(a) Differentiate between Balance of Trade and Terms of Trade

(b)        State and explain four (4) ways by which a country benefits from International trade

(c)        Explain four (4) disadvantages of International Trade,

(4 marks) (8 marks) (8 marks)

 

 

 

5. (a) Define the following concepts as used in Economics

(i)     The Supply of Money

(ii)     The Demand for Money

(b)   How do Commercial Banks create credits?

(c)    State and explain three (3) limitations on their ability to create credits.

6

(a) Distinguish between a Public Company and a Public Corporation.

(b)State and explain five (5) sources of finance available to investors in Cameroon.

(10  marks) (10 marks)

 

 

7. (a)
State and explain how each of the following will influence the location of any one named industry in
Cameroon;
i) Nearness to the source of raw material, ii) Nearness to the market, (4 marks) (4 marks)
(b) How does the government of Cameroon encourage agriculture? (12 marks)

 

 

8.(a)
Explain the following concepts as used in Economics;
i) Fiscal Policy

(4 marks)
ii) Monetary Policy (4 marks)
lii) Physical Policy (4 marks)
(b) Give reasons for the continuous increase in government’s intervention in economic activities in
Cameroon (8 marks)

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