Agec 111:Introduction To Agricultural Economics Question Paper
Agec 111:Introduction To Agricultural Economics
Course:Agriculture
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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