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ECONOMICS 1 Set 2

Economics questions to make students better prepared

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LUCAS John MABANDA
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24 views

ECONOMICS 1 Set 2

Economics questions to make students better prepared

Uploaded by

LUCAS John MABANDA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

TANZANIA ECONOMICS TEACHER’S ASSOCIATION (TETA)

ECONOMICS JOINT EXAMINATION SERIES NUMBER 2

151/1 ECONOMICS 1

TIME 3: 00 Hours SEPTEMBER 2024


Maswa girls, Airwing, Songea Boys, Kahororo, Makongoro, Singe, Tarime,
Biharamulo, Mbeya, Usongwe, Jitegemee, Misungwi, Edmond Rice, Kibiti, Ifunda
girls, Chilonwa, Msalala, Mwakavuta, Juhudi, Kaizirege, Pugu, Sokoine Memorial,
Morogoro, Njombe, Kishoju, Lindi, Maua seminary, Ilembo, Minaki, Bwiru Girls,
Cornerstone Leadership, Johannes, Harrison Uwata, Wenda, Simba wa Yuda,
Dakawa, Imperial, Arusha Science, Kishapu, Mwenge, Abbey, Songea Girls,
Mtwara Girs, Rungwe, Ihungo, Mawelewele, Nyakahura, Humura, Bukongo,
Nyakato, Shinyanga, Mpanda Girls, Madaba, Ndanda, Lupalilo, Myovozi, Fountain
Gate, Savannah Plain, Geita, Kfungiro Girls, Vwawa, Tagamenda, Uyumbu,
Kibaigwa, Tura, Ngaza, Enaboishu, Kagango, Nsimbo, Rungwa, St. Joseph
Cathedral, Chasasa, Machame Girls, Kazima, and Lugufu secondary schools

INSTRUCTIONS:

1. This paper consists of sections A, B and C with a total of eight (8) questions.
2. Answer all questions in section A and Two (2) questions from each of section B and C.
3. Section A Carry Twenty (20) marks and section B and C Carry Forty (40) marks each.
4. Non programmable calculator may be used.
5. All communication devise and any unauthorized materials are not allowed.

SECTION A (20 marks)

Page 1 of 3
Answer ALL questions from this section.

1. Briefly explain five circumstances under which workers demand for high wages.

2. Rapid population growth is threat to the environment. Briefly explain when is it economical
for a country to control its population. Five points.

SECTION B (40 marks)


Answer TWO questions from this section.

3. (a) With the help of diagram(s) explain the causes of the movement along and shift in supply
curve.

(b) The price elasticity of supply for a new smartphone is estimated to be 0.8 in the short run
and 1.8 in the long run. Explain with five points why the estimates differ.

4. (a) Careful study the diagram below and answer the questions that follow below.
(i)

How the economy can move to produce to point F. give two points.
(ii) Explain what point M and E indicate.
(iii) What will happen if the economy will move from point C to D?
(iv) Calculate the opportunity cost of moving from point D to C.
(v) How can you explain the movement from point M to point E?

Page 2 of 3
(b) Briefly discuss five key features of market economy.

5. (a) Suppose that a perfectly competitive industry comprises 1,000 identical firms. Suppose,
further, that the market demand (QD) and supply (QS) functions are;
Q D = 170 000 000 – 10, 000, 000P

Q S = 70, 000, 000 + 15, 000, 000P

(i) Calculate the equilibrium market price and quantity?


(ii) Given your answer to part a (i), how much output will be produced by each
firm in the industry?
(iii) Suppose that one of the firms in the industry goes out of business. What
will be the effect on the equilibrium market price and quantity?
(iv) Calculate price elasticity of demand and supply at the equilibrium level and interpret
your answers.
(b) Elaborate five characteristics of an oligopoly market structure.

SECTION C (40 marks)

Answer TWO questions from this section

6. “Government aims to achieve macroeconomic policy objectives of low and stable inflation,
low unemployment and stable economic growth”. Elaborate six policies used by the
government of Tanzania to achieve low level of unemployment.

7. ‘Every country in the world has experienced economic fluctuation at different stages of its
economic growth’. Discuss the extent to which external causes outweigh internal causes.
Give six points.

8. ‘Price instability is a threat to welfare of people and economic stability of the any country’.
With six points explain how the government of Tanzania solve the problem of price
instability.

Page 3 of 3

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