Economics second term ss1ExAm

Welcome to your Economics second term ss1ExAm

1. A graphical representation of the information contained in the demand schedule is called........What is demand

2. All these are factors affecting demand except

3. When a want is backed up by the ability to pay the price ; demand is said to be...........

4. The quantity of any commodity that the producers are able and willing to offer for sale at alternative prices over a given period is called...........

5. The determination of prices by the interaction of the forces of demand and supply is refered to as..........

6. At type of demand which occurs as a result of demand for other commodities

7. When a certain commodity can serve two or more purposes supply is said to be...........

8. When at the same Price, different quantities of a good are bought is said to be a ......in demand.

9. Abnormal demand can also be called. ...........

10 A schedule of all producers or supplier's of a commodity in a market is called.....,

11. A diagrammatical representation of supply schedule is called ......

12. All these are factors of production except

13. A diagram showing a functional relationship between two variables is called a ...

14. Charts with pictures are called

15. Another name for measures of central tendency is

16 A graphical representation of frequency distribution is called ------

17. All these are causes of abnormal supply except

18. A normal supply curve slopes upward from

19. Production is incomplete until the goods gets to the final ----

20. The pie chart is usually measured with a mathematical instrument called a ----

THEORY :Answer any four

1. What is demand ? state ways in which demand is different from want or need.

b. How are prices determined by demand and supply.use a diagram to illustrate it.

2. State the laws of demand and supply.

2b. Outline and discuss five factors affecting demand.

3. What is production?

b. Mention the factors of production .

c. State any three characteristics of land

4.Define abnormal demand.

b State the causes of abnormal demand.

5. Distinguish between the following:

a. Demand curve and demand schedule

b. Change in demand and change in the quantity demanded

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