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Agec 111:Agricultural Economics Question Paper

Agec 111:Agricultural Economics 

Course:Education

Institution: Kenya Methodist University question papers

Exam Year:2012



KENYA METHODIST UNIVERSITY

END OF 2''ND ''TRIMESTER 2012 (SCHOOLBASED) EXAMINATIONS
FACULTY : EDUCATION AND SOCIAL SCIENCES
DEPARTMENT : EDUCATION
UNIT CODE : AGEC 111
UNIT TITLE : INTRODUCTION TO AGRICULTURAL ECONOMICS
TIME : 2 HOURS




INSTRUCTIONS

Answer all the questions in section A and any two questions in section B.

SECTION A

Question One
Define the following terms as used in Economics: (10 Marks)

Opportunity cost.
Economic resources.
Free market system.
Normative economics.

Question Two
Discuss the causes of unemployment in developing countries and the policies to combat them. (10 Marks)

Question Three
Using supply and demand analysis explain the effect on the fees and the number of students getting university education if the government stopped subsidizing university education. (10 Marks)

SECTION B

Question Four

Explain the reasons of fluctuating prices in Agricultural products.

(10 Marks)


Discuss the role of Central Bank in the Kenya’s economy.

(10 Marks)

Question Five

With the help of appropriate illustrations, discuss the minimum and maximum price controls while discussing their effects in supply and demand and the overall effects.

(10 Marks)


Discuss the major effects of deflation on the functions of money.

(10 Marks)

Question Six
Discuss in detail the three methods of measuring national income. (20 Marks)






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