EXAMINATION PAPER

Module Title: IFY Economics

SECTION A: Answer two questions from this section

1) Explain the factors which can cause a change in supply for a product. [10 marks]

2) Explain the factors which can determine the level of consumption in an economy. [10 marks]

3) Explain the different methods of protectionism an economy might use to correct a deficit. [10 marks]

SECTION B: Answer two questions from this section

1) To what extent is a sharp appreciation of its exchange rate always beneficial for an economy? [20 marks]

2) Evaluate the policies a government may use to correct a balance of payments deficit. [20 marks]

3) To what extent is perfect competition a more desirable market structure than monopoly? [20 marks]