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Business Studies Form 3- Demand And Supply. Question Paper

Business Studies Form 3- Demand And Supply.

Course:Secondary Level

Exam Year:2008

DEMAND AND SUPPLY.

Business Studies Form 3

1. State five factors that affect the demand of a product on the market (5mks)

2. State four types of demand (4mks)

3. Identify six factors that can cause a shift in the demand curve to the right (6mks)

4. State six causes of abnormal demand situations (6mks)

5. Define price elasticity of demand (5mks)

6. State four types of elasticity of demand (4mks)

7. Identify five degrees of price elasticity of demand (5mks)

8. State six factors that affect price elasticity of demand (6mks)

9. The income of a consumer is shs. 5000 per month which enables her demand only 5 kg of sugar per month. He the income increases to shs. 8000 per month the consumer will be able to demand 8 kg of sugar to satisfy her monthly requirement. Calculate her income elasticity of demand (5mks)

10. State five importance of elasticity of demand (5mks)

11. State six factors influence the supply of a product on the market (6mks)

12. Identify four types of supply curves (4mks)

13. State six factors that may bring about a shift to the right of a supply curve (6mks)

14. Identify five levels of elasticity of supply (5mks)

15. State six factors that affect price elasticity of supply (6mks)

16. Highlight four importance of elasticity of supply (4mks)

17. Indicate whether each of the following factors affects "Demand" or " Supply" (5mks)

a. Changes in the prices of input

b. Changes in the tastes and preferences

c. Changes in technology

d. Changes in income

e. Changes in the prices of other related goods.

18. With the aid of a diagram, show how equilibrium price is determined in a market (6mks)

19. State the following laws:

a. Law of demand (2mks)

b. Law of supply (2mks)

20. Distinguish between a 'Demand schedule' and a 'Demand curve' (4mks)

Business Studies Form 3- Demand And Supply. Question Paper

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