Uneb uace economics paper one 2017

Uneb uace economics paper one 2017

SECTION A
Answer all parts of this question
1. a) i) What are public goods?
ii) Outline any three challenges faced by your country when providing public goods.
b) i) State the law of diminishing returns
ii) Give any three assumptions of the law of diminishing returns.
c) i) State the Big-push theory of economic growth.
ii) Mention any three benefits of adopting the Big-push theory in developing countries.
d) i) Define the term credit multiplier.