Subject matter of economics questions | form five Economics

(3068) Question Category: Short answers

  1. Define economics according to Robbins.
  2. Why do you think this definition is better than other definitions?

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(3069) Question Category: Short answers

Explain why economics is regarded as a science?

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(3070) Question Category: Long answers

Discuss the meaning  of the concept of opportunity cost. Illustrate the concept with practical examples.

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(3072) Question Category: Long answers

What is transition period? With reference to your study of economic systems , show why the transition is necessary.

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(3074) Question Category: Long answers

  1. In what ways do command economies and market economies differ?
  2. What are the advantages and disadvantages of each of the two economic systems in (a) above?

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