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- 3. Write short notes on the following: (i) Marginal cost (4 marks) (ii) Wants (4 marks) (iii) Scarcity (4 marks) (iv) Choice (4 marks) (v) Opportunity cost (4 marks) 4. Explain four basic economic problems of a society. (20 marks) 5. (a) Define the term utility. (4 marks) (b) Explain three types of utility. (12 marks) (c) Give two differences between total and marginal utility. (4 marks) 6. (a)What is public finance? (5 marks) (b) Explain five objectives of fiscal policy. (15 marks) 7. (a) Define price legislation. (4 marks) (b)Explain four objectives of price control policy. (16 marks) 8. (a) What is financial institution? (5 marks) (b) Explain the following: (i) Money market (5 marks) (ii) Insurance companies (5 marks) (iii) Capital market (5 marks) 9. (a) With the aid of a diagram, explain the burden of indirect tax on commodities whose demand is perfectly inelastic and elastic respectively. (12 marks) (b) Discuss four reasons why government imposes taxes. (8 marks) 10. (a) What is human capital development? (5 marks) (b) Discuss five characteristics of human capital. (15 marks) 11. (a) Define economic growth. (4 marks) (b) Expatiate on four conditions necessary for rapid economic development. (16 marks) 12. Mention and explain five features of a perfectly competitive market. (20 marks)
- The supervisor puts Siji's complaint into his own words to be sure he has understood. What technique is the supervisor using to avoid conflict and negative communication patterns with Siji? A. Clarification B. Reflection C. Amplification D. Expression
- Which is an example of an informational interview? D A. A grandchild interviewing a grandparent about his wartime experiences B. A college graduate interviewing at a company to obtain an internship C. A student interviewing an artist to get details for a school assignment D. A pet shelter director interviewing students for volunteer positions
- (d) Calculate the percentage of the total tax imposed that is: (i) paid by the buyers per unit: (ii) paid by the sellers per unit. 2. A public transport company recently increased the price of its service on a particular high traffic route from 12 to 15 per trip, this resulted in a reduction in the number of commuters from 600 to 580 per day. Use the information above to answer the questions that follow. (a) Calculate the: (bar (x)) percentage increase in the price of its service; (ii) percentage decrease in the number of commuters; (iii) coefficient of price elasticity of demand for its service. (b) Is the demand for the company's transport service price clastic or inelastic? Give a reason for your answer. ria
- An Emergency Action Plan (EAP) assigns responsibilities to those affected and outlines evacuation routes. It also Identifies emergencies that might reasonably occur and provides procedures for alerting people about an emergency. What else does an EAP do? Select the best option. Labels the types of equipment present at the worksite Provides a way for employees and family members to get information about what is happening Predicts when and where emergencies will happen