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EOA611S-ECONOMICS OF AGRICULTURE-2ND OPP-JULY 2022 |
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n Am I BI A u n IVER s I TY
OF SCIEnCE Ano TECHnOLOGY
FACULlYOF MANAGEMENTSCIENCES
DEPARTMENTOFACCOUNTINGE,CONOMICSAND FINANCE
QUALIFICATIONB:ACHELOROFECONOMICS
QUALIFICATIOCNODE:07BECO
LEVEL: 7
COURSECODE:EOA611S
COURSENAME:ECONOMICSOF AGRICULTURE
SESSIONJ: UNE 2022
DURATION:3 HOURS
PAPER:THEORY
MARKS:100
SECONDOPPORTUNllYEXAMINATION_PAPER
EXAMINER(S) MR. MALLY LIKUKELA
MODERATOR: MR. PINEHAS NANGULA
INSTRUCTIONS
1. This paper consist of section AB and C
2. Answer ALL questions
3. Number your answers in accordance with the question paper.
4. Start each section answer on a new page
5. Write clearly and leqibly
PERMISSIBLEMATERIALS
1. Pen/pencil/eraser
2. Ruler
THISEXAMINATIONMEMORANDACONSISTSOF3 PAGES(Including this front page)
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SECTIONA
35 MARKS
QUESTION1
[5 MARKS]
The terms microeconomics and macroeconomics are frequently used in the study
of economics, briefly illustrate the difference by using clear examples.
QUESTION2
Definethe followingterms;
[10MARKS]
1. Price elasticity of demand
2. Indifference curve
3. Market equilibrium
4. Utility function:
5. Marginal Rate of Substitution
QUESTION3
Describe the five categories of price elasticity of demand.
[10MARKS]
QUESTION4
[10MARKS]
Explain what is meant by the term Budget Constraint, name and discuss the elements on
which the budget constraints is dependent upon.
SECTIONB
45 MARKS
QUESTION1
Distinguish between a movement along the demand/supply curve and the shift
of a demand/supply curve, and explain using the appropriate graphs.
[20 MARKS]
QUESTION2
[10MARKS]
Discuss five main challenges facing the Namibian agriculture sector.
QUESTION3
[15MARKS]
The success of the agriculture sector depends on the critical roles played by various
stakeholders in the economy. Select one stakeholder of your choice and discuss the role which
that particular stakeholder plays in the agriculture sector.
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SECTIONC
15 MARKS
QUESTION1
Consider the following scenarios pertaining to developments in a particular consumer's income.
Scenario 1: Consider a consumer who can spends his income of 300 on good A or on good
B or on any combination of A and B. One unit of A costs 3 and one unit of B costing 5. Draw
a budget line.
[5 Marks]
Scenario 2: Imagine the same consumer, his income rises from 300 to 360, other things
remaining equal. Draw an additional new budget line to illustrate the change.
[5 Marks]
Imagine the consumer in Scenario 2, the price of 1 unit of B falls from 5 to 4, other things
remaining equal. Draw an additional new budget line to illustrate the change.
[5 Marks]
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