{"id":58,"date":"2023-04-01T12:08:57","date_gmt":"2023-04-01T12:08:57","guid":{"rendered":"http:\/\/localhost\/solvefor2\/?p=58"},"modified":"2023-04-01T12:17:30","modified_gmt":"2023-04-01T12:17:30","slug":"economics-paper-2-march-2016","status":"publish","type":"post","link":"https:\/\/edu.co.tz\/notes\/economics-paper-2-march-2016\/","title":{"rendered":"ECONOMICS Paper 2 March 2016"},"content":{"rendered":"<p style=\"text-align: justify\">P220\/2\n<\/p>\n<p style=\"text-align: justify\">ECONOMICS\n<\/p>\n<p style=\"text-align: justify\"> Paper 2\n<\/p>\n<p style=\"text-align: justify\">March 2016\n<\/p>\n<p style=\"text-align: justify\"> 2<sup>1<\/sup>\/<sub>2<\/sub> hours\n<\/p>\n<p><span style=\"font-size:14pt\"> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0REGISTRATION EXAMINATIONS<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0ECONOMICS<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0      Paper 2<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0      2<sup>1<\/sup>\/<sub>2<\/sub>  hours<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\"><strong>Instructions<br \/>\n<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"font-size:14pt\">Answer four questions only<br \/>\n<\/span><\/li>\n<li><span style=\"font-size:14pt\">Section A is compulsory. Answers to this section should be concise.<br \/>\n<\/span><\/li>\n<li><span style=\"font-size:14pt\">Answer three questions from section B.<br \/>\n<\/span><\/li>\n<li><span style=\"font-size:14pt\">All questions in section B carry equal marks.<br \/>\n<\/span><\/li>\n<li>\n<div><span style=\"font-size:14pt\">Credit will be given for use of relevant diagrams.<br \/>\n<\/span><\/div>\n<p style=\"margin-left: 108pt\"><span style=\"font-size:14pt\"><strong>SECTION A (20 MARKS)<br \/>\n<\/strong><\/span><\/p>\n<\/li>\n<\/ul>\n<ol>\n<li>\n<div><span style=\"font-size:14pt\">(a) (i) Define the term income elasticity of demand.\u00a0\u00a0\u00a0\u00a0(01 mark)<br \/>\n<\/span><\/div>\n<p><span style=\"font-size:14pt\">     (ii) Given that an increase in the income of a consumer from Shs \u00a0\u00a0\u00a0\u00a025,000 to Shs 40,000 resulted in a change in demand for a \u00a0\u00a0\u00a0\u00a0commodity from 780 units to 600 units, calculate the income \u00a0\u00a0\u00a0\u00a0elasticity of demand.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (03 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<p><span style=\"font-size:14pt\">(b) (i) Define the term oligopoly.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(01 mark)<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">     (ii) Mention three measures used by oligopoly firms to increase sales \u00a0\u00a0\u00a0\u00a0in your country.         \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(03 marks)<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">(c)(i) Define the term transfer income.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(01 mark)<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">    (ii) Give three sources of transfer income in your country. (03 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<p><span style=\"font-size:14pt\">(d)(i) Distinguish between labour and labour force.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0    (02 marks)<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">    (ii) Give two characteristics of labour force in your country. (02 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<p><span style=\"font-size:14pt\">(e)    State four problems faced by public enterprises in your country.\u00a0\u00a0\u00a0\u00a0         \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(04 marks)<br \/>\n<\/span><\/p>\n<\/li>\n<\/ol>\n<p style=\"text-align: center\"><span style=\"font-size:14pt\"><strong>SECTION B (60 MARKS)<br \/>\n<\/strong><\/span><\/p>\n<ol>\n<li>\n<div><span style=\"font-size:14pt\">(a) What are the benefits of relying on the price mechanism in your country?\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (10 marks)<br \/>\n<\/span><\/div>\n<p><span style=\"font-size:14pt\">(b) Explain the measures taken by the government of your country to control the defects of the price mechanism.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(10 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<\/li>\n<li>\n<div><span style=\"font-size:14pt\">(a) Distinguish between capital accumulation and capital consumption.            \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(04 marks)<br \/>\n<\/span><\/div>\n<p><span style=\"font-size:14pt\">(b) Explain the factors that limit capital accumulation in your country.\u00a0\u00a0\u00a0\u00a0          \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(16 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<\/li>\n<li>\n<div><span style=\"font-size:14pt\">(a) Why does government compile national income statistics in your country?\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (06 marks)<br \/>\n<\/span><\/div>\n<p><span style=\"font-size:14pt\">(b) What are the problems faced in compiling national income statistics in your country? \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(14 marks)<br \/>\n<\/span><\/p>\n<p><span style=\"font-size:14pt\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br \/>\n<\/span><\/p>\n<\/li>\n<li>\n<div><span style=\"font-size:14pt\">(a) Describe the structure of agriculture in your country.\u00a0\u00a0\u00a0\u00a0(10 marks)<br \/>\n<\/span><\/div>\n<p><span style=\"font-size:14pt\">(b) What are the demerits of such a structure to the economy of your country? \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(10 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<\/li>\n<li>\n<div><span style=\"font-size:14pt\">(a) Why have public enterprises been privatised in your country?\u00a0\u00a0\u00a0\u00a0         \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(10 marks)<br \/>\n<\/span><\/div>\n<p><span style=\"font-size:14pt\">(b) Explain the contribution of the private sector to the economic development of your country.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (10 marks)<br \/>\n<\/span><\/p>\n<p>\n\u00a0<\/p>\n<p style=\"text-align: center\"><span style=\"font-size:14pt\"><strong><em>**END **<\/em><\/strong><\/span><\/p>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>P220\/2 ECONOMICS Paper 2 March 2016 21\/2 hours \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0REGISTRATION EXAMINATIONS \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0ECONOMICS \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Paper 2 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21\/2 hours Instructions Answer four<\/p>\n","protected":false},"author":1,"featured_media":334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1],"tags":[],"class_list":["post-58","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ECONOMICS Paper 2 March 2016 - MAKTABA EDUCATION CENTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/edu.co.tz\/notes\/economics-paper-2-march-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECONOMICS Paper 2 March 2016 - MAKTABA EDUCATION CENTER\" \/>\n<meta property=\"og:description\" content=\"P220\/2 ECONOMICS Paper 2 March 2016 21\/2 hours \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0REGISTRATION EXAMINATIONS \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0ECONOMICS \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Paper 2 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21\/2 hours Instructions Answer four\" \/>\n<meta property=\"og:url\" content=\"https:\/\/edu.co.tz\/notes\/economics-paper-2-march-2016\/\" \/>\n<meta property=\"og:site_name\" content=\"MAKTABA EDUCATION CENTER\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-01T12:08:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-01T12:17:30+00:00\" \/>\n<meta name=\"author\" content=\"solvefor2\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" 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