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Agec 451: Agricultural Policy Analysis Question Paper

Agec 451: Agricultural Policy Analysis

Course:Bachelor Of Science In Animal Science

Institution: Chuka University question papers

Exam Year:2013

CHUKA

UNIVERSITY

UNIVERSITY EXAMINATIONS

FOURTH YEAR EXAMINATION FOR THE AWARD OF DEGREE OF
BACHELOR OF SCIENCE IN ANIMAL SCIENCE

AGEC 451: AGRICULTURAL POLICY ANALYSIS

STREAMS: BSc. (ANSC) TIME: 2 HOURS

DAY/DATE: TUESDAY 7/8/2013 8.30 A.M. – 10.30 A.M.
INSTRUCTIONS:

SECTION A: ANSWER ALL QUESTIONS

1. Explain the role of agriculture in Kenya’s Economy. [10 marks]

2. Using appropriate illustrations and examples, explain the concept of pareto
optimality as used in welfare economics. [6 marks]

3. Explain five (5) reasons for government intervention in agricultural markets.
[10 marks]

4. Explain four instruments used to implement agricultural price policies. [4 marks]

SECTION B: ANSWER ANY TWO QUESTIONS

5. (a) Using an illustration explain the relationship between consumer surplus
equivalent and compensating variation. [12 marks]

(b) Using an illustration explain the relationship between marginal cost and
producer surplus. [8 marks]

6. (a) Using a diagram, describe autarkic equilibrium. [8 marks]

(b) What is the justification of opening up a country’s economy to international trade? [12 marks]
7. (a) Discuss challenges facing agricultural development in Kenya. [10 marks]

(b) Suggest policy interventions to address each challenge. [10 marks]

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Agec 451: Agricultural Policy Analysis Question Paper

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