cmaeroon gce june 2016 Economics Paper 2

cameroon gce june 2016 Economics Paper 2

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1.

(a) What is meant by Income Elasticity of Demand?                                           (2 marks)

(b) Study the table below and answer the questions that follow

Calculate the Income Elasticity of Demand as income rises from l OOOOFCF A to 15 .OOOFCF A per week for

(i) Good A, ( 3marks)

(ii)  Good  B,  ( 3marks)

(c)       State and explain two (2) types of Demand.                                 (6 marks)

(d)    State and explain three (3) importance of Price Elasticity of Demand to the Government.                             (6 marks)

2.

(a)         If Guinness Cameroon SA merges with CIMENCAM;

(i)           State and explain three (3) advantages of such a merger, ( 6 marks)

(ii)         State and explain two (2) disadvantages of such a merger. ( 4marks )

(b)         With the aid of examples, differentiate between Capital Goods and Consumer Goods.      (6 marks)

(c)         Briefly explain the four ( 4) functions of an Entrepreneur as a Factor of Production.        (4 marks)

3.

(a)         Distinguish between the following:

(i)  Visible Trade and Invisible Trade,  (4 marks)

(ii) Favourable Balance of Trade and Unfavourable Balance of Trade.  (4 marks)

(b)       State and explain three (3) methods. used by countries to restrict imports.        (6 marks)

(c)         State and explain three (3) disadvantages of dumping in the economy of Cameroon.      (6 marks)

4.

(a)     State and explain why people prefer to hold part of their assets in liquid form.         (12 marks)

(b)         Explain two (2) causes of;

(i)         Demand-Pull Inflation,   (4  marks)

(ii)        Cost- Push Inflation.  (4 marks)

5.

(a) Distinguish between the following:

(i)          Emigration and Immigration,   (4 marks)

(ii)        Growing Population and Declining Population.   (4 marks)

(b) State and explain the three (3) main factors that influence changes in the population of a country.

(12 marks)

6.

(a) Distinguish between the terms “Consumption” and “Savings’t-as used in Economics. (6 marks)

(b) Explain briefly the three (3)approaches used in measuring the National Income. (6 marks)

(c) Explain four (4)reasons why a country should measure her National Income Statistics. (8 marks)

7.

(a)The following figures represent scores recorded by students during the end-of- year examination in

Economics; 8; 12, 10,8,14,16,8 and 16. Calculate the following:

(i) The Mean Score (2 marks)

(ii) The Mode Score (2 marks)

(iii)   The Median Score (2 marks)

(a)  Define the following concepts as used in Economics:

(i)   Scarcity,  (2 marks)

(ii)  Choice,  (2 marks)

(iii)   Opportunity Cost. (2 marks)

(c)   Explain four (4) roles of the government in the Mixed Economic System.                                                       (8 marks)

8.

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

(i)          Economic Growth, (3 marks)

(ii)        Economic Development. ( 3marks)

(b)   State and explain three (3) causes of Economic Growth in a developing country like Cameroon.(6 marks)

(c)State and explain four (4) benefits of Economic Growth of  an economy.         (8 marks)