Economics Form Five Holiday Package 2026 - Embarway Secondary School
ECONOMICS
FORM FIVE HOLIDAY PACKAGE 2026 - EMBARWAY SECONDARY SCHOOL
ANSWER
ALL QUESTIONS
1.
Outline five limitations of Micro-economics.
2.
Why demand curve slopes downward from left to right? Provide five points.
3.
Subject matter of economics it tells us what economics as a subject is all
about. Economics
deals
with all problems arise in the economic activities, among of economic
activities are
production,
exchange, consumption and distribution, Elucidate six importance of
consumption
in economy as among of economic activity.
4.
The classification of economics as either an art or a science has been a
subject of debate.
However,
some economists regard Economics as a science. Support this view by explaining
five
(5)
reasons why Economics is considered a science.
5.
Some people argue that the pricing of goods and services is not beneficial to
the economy.
Disagree
with this contention by explaining five (5) points to support your argument.
6.
A consumer plans to buy a Car and smartphone but has limited income. As an
economic adviser
explain
six (6) elements of human wants.
7.
A country is considering adopting a laissez-faire economic system to promote
private sector
development.
Before making this decision, the government seeks your advice. Explain six (6)
disadvantages
of the laissez-faire economic system that policymakers should take into
account.
8.
"Studying Economics is worthwhile. Justify this statement by explaining
six (6) reasons why
the
study of Economics is important."
9.
Compose five positive statements with their respective normative statement
10.By
using five points differentiate between economics and chemistry
11.What
should be done to increase the quantity demand for a good. Give five points
12.From
each of the following statements explain why;
a)
Joint goods are negatively related
b)
Consumers suffer from the increase in tax under the inelastic demanded goods
c)
Change in price do not affect revenue under unitary demand
d)
Sellers should lower the price to increase revenue under elastic demanded goods
e)
Oranges and rulers are said to have zero relationship
13.
Land are all natural resources provided by the nature such as soil, forest,
water bodies and
minerals.
Discuss six roles played by the land in the economy
14.
Production is the creation of utility” justify the statement by using six (06)
points
15.
(a) what is to economize? How is it done by different economic agencies
(b)
outline four (04) key traits of Robbins definitions of economics
16.
Give a reason of the following statements
a)
Utility is not satisfaction
b)
All capitals are wealth but not all wealth is capital
c)
Economics as the social science
d)
Economics as normative science
17.Discuss
five (05) peculiarities of land
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