GGE Economics 2 June 2022 all questions available here. As a Student offering Economics in Uppersixth, you will need access to past question papers to prepare for the final year exam. This past question paper will sure be handy.
June 2022 – Economics 2 – Advanced Level
Time allowed: Three hours
Subject title: Economics Paper No./Title: 2 Subject Code No.: 0725
ANSWER FIVE questions, choosing AT LEAST TWO from each section. All questions carry equal marks.
You are reminded of the necessity for good English and orderly presentation in your answers.
1). (a) What factors may lead to an outward shift of the production possibilities curve? – (8 marks)
(b) How can an outward shift of the production possibilities curve help in the management of the problem of scarcity? –(12 marks)
2). (a) With the use of diagrams, distinguish between “proce floor” and “price ceilling” legislations. –(12 marks)
(b) Explain the economic implications of a price ceilling legislation. –(8 marks)
3). (a) With the aid of a diagram, explain the relationship between Total Revenue (TR) and Marginal Revenue (MR) of a firm in imperfect competition. –(12 marks)
(b) What are the advantages of oliopoly in and economy? –(8 marks)
4). (a) Define profit and explain the different types. –(8 marks)
(b) What are the functions of profit in a market economy? –(12 marks)
5). (a) Distinguish between autonomous consumption and induced consumption. –(6 marks)
(b) Why was household consumption been on the rise in urban centres on Cameroon? –(14 marks)
6). (a) Explain the various ways by which the government of a county can control the suply of money. -(12 marks)
(b) Why do governments control money suply? –(8 marks)
7). (a) Distinguish between discretionary fiscal policy and automatic stabilizers. -(8 marks)
(b) How effective are discretionary fiscal policies in attaining government objetives? –(12 marks)
8). (a) What are the barriers to growth in developing countries? –(10 marks)
(b) Suggest policies that can be adopted to encourage growth. –(10 marks)