Scribd
Upload
53 views

Econ 2-1

This document contains an economics exam for S.5 students in Uganda with questions in two sections. Section A includes multiple choice and short answer questions about distinguishing between labor productivity and efficiency, defining GDP, calculating GNP, opportunity cost, subsistence production, and factors of production. Section B includes longer answer questions about price controls, reasons for government avoiding price setting, reserve price vs market price, factors affecting reserved prices, latent vs effective demand, and factors influencing demand. The exam tests students' understanding of key economic concepts and measurements relevant to Uganda's economy.

Uploaded by

ssempijja james
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
53 views

Econ 2-1

This document contains an economics exam for S.5 students in Uganda with questions in two sections. Section A includes multiple choice and short answer questions about distinguishing between labor productivity and efficiency, defining GDP, calculating GNP, opportunity cost, subsistence production, and factors of production. Section B includes longer answer questions about price controls, reasons for government avoiding price setting, reserve price vs market price, factors affecting reserved prices, latent vs effective demand, and factors influencing demand. The exam tests students' understanding of key economic concepts and measurements relevant to Uganda's economy.

Uploaded by

ssempijja james
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/ 2

BEGINNING OF TERM II 2019 EXAM

S.5 ECONOMICS
P220/2
TIME : 2 HOURS 30 MINUTES
INSTRUCTIONS
- Section A is compulsory
- Attempt any THREE questions from section B

SECTION A
1. (a) (i) Distinguish between labour productivity and labour efficiency.
(02 marks)
(ii) Give two causes of low labour efficiency in Uganda. (02 mark)
(b) (i) Define real Gross Domestic Product. (01
mark)
(ii) Given that a country’s Net Domestic product at factor cost is
shs. 689,000 million, depreciation allowance is shs. 152,000 million,
subsidies are shs. 592,000 million, net income from abroad is
shs. 373,000 million and outlays are shs. 421,000 million. Calculate the
country’s GNP at market price. (03 marks)
(c) (i) What is the relationship between choice and opportunity cost?
(02 marks)
(ii) Give any two uses of opportunity cost concept to a producer.
(02 marks)
(d) (i) What is meant by “Subsistence production”? (01 mark)
(ii) State three objectives for the commercialization of production in
Uganda. (03 marks)
(e) Give any four factors of production in Uganda. (04 marks)

SECTION B

2. (a) State the forms of price controls. (04 marks)


(b) Explain the reasons why government avoids the setting prices in Uganda.
(16 marks)

3. (a) Distinguish between Reserve price and market price. (04 marks)
(b) Examine the factors that lead to high reserved price by sellers in Uganda.
(16 marks)

4. (a) Distinguish between latent demand and effective demand. (04 marks)
(b) Explain the factors that influence demand for commodities in Uganda.
(16 marks)

5. (a) Describe the three approaches used in measuring national income. (06 marks)
(b) Account for the relatively low level of Gross Domestic Product (GDP in
Uganda. (14 marks)
END

You might also like