Get premium membership and access questions with answers, video lessons as well as revision papers.
1. An indifference curve moves from left to right downward. It is due to the reason that when a consumer decides to have more units of one of the two commodities, he will have to reduce the number of the units of the other commodity. It is necessary in order to achieve the same satisfaction.
2. An indifference curve is convex to the origin. This implies that when we have more and more units of one commodity and less and less of other commodity, the marginal rate of substitution of X for Y goes on falling.
3. Another property of indifference curves is that they never intersect each other.
Dullayo answered the question on May 21, 2018 at 04:50
- Examine the factors that influence tax revenue in your country.(Solved)
Examine the factors that influence tax revenue in your country.
Date posted: May 19, 2018. Answers (1)
- Explain three benefits of an economic growth in any nation(Solved)
Explain three benefits of an economic growth in any nation.
Date posted: May 16, 2018. Answers (1)
- Discuss FIVE factors that hinder economic development in less developed countries(Solved)
Discuss FIVE factors that hinder economic development in less developed countries.
Date posted: May 16, 2018. Answers (1)
- Explain three types of public enterprises(Solved)
Explain three types of public enterprises.
Date posted: May 16, 2018. Answers (1)
- State the objectives of State Owned Corporations/Enterprises(Solved)
State the objectives of State Owned Corporations/Enterprises.
Date posted: May 16, 2018. Answers (1)
- Discuss FIVE elements of Public Health Care in Kenya(Solved)
Discuss FIVE elements of Public Health Care in Kenya.
Date posted: May 16, 2018. Answers (1)
- Define the term “library catalogue” and explain its importance(Solved)
Define the term “library catalogue” and explain its importance.
Date posted: May 15, 2018. Answers (1)
- Assess the policy options for inequality in income distribution(Solved)
Assess the policy options for inequality in income distribution.
Date posted: May 15, 2018. Answers (1)
- Explain the reasons for the failure of State Owned Enterprises (SOEs).(Solved)
Explain the reasons for the failure of State Owned Enterprises (SOEs).
Date posted: May 15, 2018. Answers (1)
- Explain the critics of Keynesian economics(Solved)
Explain the critics of Keynesian economics.
Date posted: May 15, 2018. Answers (1)
- Discuss the essential ideas of Marginalist school of thought(Solved)
Discuss the essential ideas of Marginalist school of thought.
Date posted: May 15, 2018. Answers (1)
- Define the term price discrimination as used in economics and give the necessary conditions which must be fulfilled for the implementation of price discrimination(Solved)
Define the term price discrimination as used in economics and give the necessary conditions which must be fulfilled for the implementation of price discrimination.
Date posted: May 15, 2018. Answers (1)
- Outline 2 reasons why consumers may decide to save rather than spend their income.(Solved)
Outline 2 reasons why consumers may decide to save rather than spend their income.
Date posted: May 14, 2018. Answers (1)
- Explain any one model for analyzing farmer's behaviour under uncertainty(Solved)
Explain any one model for analyzing farmer's behaviour under uncertainty.
Date posted: May 13, 2018. Answers (1)
- Discuss the typical farm management decisions a farm operator makes(Solved)
Discuss the typical farm management decisions a farm operator makes.
Date posted: May 13, 2018. Answers (1)
- “Commercial banks are not only dealers of money but manufacturers of money and credit also.” Explain the statement.(Solved)
“Commercial banks are not only dealers of money but manufacturers of money and credit also.” Explain the statement.
Date posted: May 12, 2018. Answers (1)
- Distinguish between revenue expenditure and capital expenditure of a government budget.
Give two examples of each.(Solved)
Distinguish between revenue expenditure and capital expenditure of a government budget.
Give two examples of each.
Date posted: May 12, 2018. Answers (1)
- Explain the concept of deflationary gap. Also explain the role of “margin requirements” in reducing it(Solved)
Explain the concept of deflationary gap. Also explain the role of “margin requirements” in reducing it
Date posted: May 12, 2018. Answers (1)
- Explain the concept of inflationary gap. Also explain the role of “legal reserves” in reducing Inflationary gap. (Solved)
Explain the concept of inflationary gap. Also explain the role of “legal reserves” in reducing Inflationary gap.
Date posted: May 12, 2018. Answers (1)
- Which transactions determine the ‘balance of trade’? When is balance of trade in surplus?(Solved)
Which transactions determine the ‘balance of trade’? When is balance of trade in surplus?
Date posted: May 12, 2018. Answers (1)