Ordinary level 2026 South West mock Economics 2

This sixth image continues with Economics exam questions, covering macro-topics like unemployment and national income, as well as micro-topics like market structures and price elasticity.

QUESTION 1

• a) Define the following:

  • i. Structural unemployment.

  • ii. Frictional unemployment.

  • iii. Full employment.

    (2+2+2 marks)

• b) State and explain:

  • i. Two negative effects of unemployment on the economy. (4 marks)

  • ii. Two remedies of unemployment. (4 marks)

• c) Explain three roles played by agriculture on the economy of Cameroon. (6 marks)

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QUESTION 2

• a) Distinguish between nominal national income and real national income. (4 marks)

• b) State and explain two problems encountered in measuring national income and two uses of national income statistics. (8 marks)

• c) Explain any four causes of economic growth. (8 marks)

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QUESTION 3

• a) Identify the appropriate term that suits the following phrases:

  • A system where economic resources are allocated by market forces.

  • Consumers determine what is produced by casting their votes through their demand.

  • A place where production, distribution and consumption of goods and services take place.

  • Consumers aim at optimizing utility and producers are driven by the desire to maximize profit.

  • A state established institution that makes decision relating to production, distribution and consumption.

  • A set of rules and regulations that governs the pattern of economic activities in a society.

    (6 marks)

• b) Explain four differences between a capitalist economic system and a state planned economic system. (8 marks)

• c) State and explain three roles of the state in a mixed economic system. (6 marks)

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QUESTION 4

• a) Define the following market structures:

  • i. Perfect competition

  • ii. Monopolistic competition

  • iii. Oligopoly

    (2+2+2 marks)

• b) Use the table below to answer the questions that follow:

Price (FCFA)	Market demand (kg)	Market supply (kg)
30	45	80
25	50	70
20	60	60
15	70	50
10	80	45

• i. What is the equilibrium price and why? (4 marks)

• ii. Calculate the price elasticity of supply when price increases from 15 FCFA to 25 FCFA. (4 marks)

• iii. Suppose the government imposes a price of 30 FCFA, what name is given to such a price? (2 marks)

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Since you have quite a collection of these mock exam papers now, would you like me to create a consolidated answer key for the data-response questions (like the equilibrium and elasticity calculations in Question 4)?