Activity

Q.
What are the exemptions under the Local Government Act for assessment rates?

A.
Appeal for reduction on assessment rates has been posted in:

Past year 2011 Q5 allowable grounds for objection to […]

Q.
b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free market system. (5 marks)
iii) Regulated or mixed market system. (5 […]

Q.

b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free market system. (5 marks)
iii) Regulated or mixed market system. (5 […]

Q.
b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free market system. (5 marks)
iii) Regulated or mixed market system. (5 […]

Q.b) Define inflation and explain the different degrees of inflation. (8 marks)(8 marks, 2013 Q5b)A.Inflation is associated with rising price. It is a situation in which there is a sustained, inordinate […]

Q.b) Explain the characteristics of money as a medium of exchange. (5 marks)(5 marks, 2013 Q6b)A.MONEY CHARACTERISTICS:The four primary characteristics of money are: (1) durability, (2) divisibility, (3) tr […]

Q.
b) Explain with examples, the meaning of protectionism. (5 marks)

(5 marks, 2013 Q7b)

A.
DEFINITION OF ‘PROTECTIONISM’

Government actions and policies that restrict or restrain international trade, […]

Q.a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt.Explain:iii) Contractionary Fiscal Policy. (5 marks)(5 marks, 2013 Q7aiii)A.From AmosWEB search […]

Q.What is expansionary monetary policy? Is there a similarity to expansionary fiscal policy?A.Below is an article from AmosWEB under Encyclonomic Webpedia:EXPANSIONARY MONETARY POLICY:A form of monetary policy in […]

Q.a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt.Explain:ii) Expansionary Fiscal Policy. (5 marks)(5 marks, 2013 Q7aii)A.DEFINITION OF ‘EXPANSIONARY […]

Q.Explain the impact of the following due to the increase in rate of inflation:-i) Price level of goods and services. (4 marks)ii) Value of money. (4 marks)iii) Profits of entrepreneur. (4 marks)iv) Dividend and […]

Q.
a) Fiscal Policy refers to the regulation of the level of government spending, taxation and public debt.

Explain:

i) Objectives of Fiscal Policy. (5 marks)

ii) Expansionary Fiscal Policy. (5 […]

Q.
a) The circular flow of income shows the economic interaction between the different sectors in the economy. It also involves the income received and income payments made by different sectors to the […]

Q.
a) Explain the following terms in the context of national economy:-

i) Gross Domestic Product (GDP). (3 marks)

ii) Primary sector. (3 marks)

iii) Secondary sector. (3 marks)

iv) Tertiary sector. (3 […]

Q.
a) Explain the characteristics of the following market structure. Support your answer with examples.

i) Perfect competition. (4 marks)

ii) Oligopoly. (4 marks)

b) Differentiate monopoly and […]

Q.
Explain the following terms:-

i) Elasticity of demand. (6 marks)

ii) Equilibrium market price. (6 marks)

iii) Factors of production. (8 marks)

(20 marks, 2013 Q3)

A.
i) Elasticity of demand can […]

Q.
a) Explain the statement “demand is a function of price”. (5 marks)

b) Explain the concept of opportunity cost with reference to the production possibility curve. (15 marks)

(20 marks, 2013 Q2)

A.
a) […]

Q.
a) Define economics and clarify why we should study economics? (5 marks)

b) Explain the advantages and disadvantages of the following economic systems:-

i) Central command system. (5 marks)
ii) Free […]

Q.What are your arguments for and against Protectionism?A.Arguments for ProtectionismFledging industry argument: Certain industries possess a possible comparative advantage but have not yet exploited economies of […]

Q.

In the context of international trade, explain the followings:-

a) Tools of protectionism. (10 marks)

(10 marks, 2014 Q8a)

A.
Protectionism & Barriers to Trade
Author: Geoff […]