P220/1
ECONOMICS
Paper 1
th
13 Aug. 2024
3 hours
KAMPALA WAKISO GIANT SCHOOLS ASSOCIATION (KWGSA)
Uganda Advanced Certificate of Education
National Joint Mock Examinations 2024
ECONOMICS
Paper 1
3 hours
INSTRUCTIONS TO CANDIDATES:
Attempt any five (5) questions.
Section A is compulsory. Answers to this section should be precise and concise.
Answer any four (4) questions from section B.
All questions in section B carry equal marks.
Any additional question(s) attempted will not be marked.
Credit will be given for use of relevant diagrams.
KWGSA Joint Mock Examinations 2024 Page 1 of 2
SECTION A: (20 marks)
Answer all parts of this section
1. (a). Outline any four uses of the concept of price elasticity of demand. (04 marks)
(b). (i) Define the term absolute monopoly. (01 mark)
(ii) Outline any three reasons for the control of monopoly. (03 marks)
(c). (i) Define the term trade liberalization. (01 mark)
(ii) Mention any three reasons why there is need for trade liberalization in an
economy (03 marks)
(d) (i) Distinguish between bandwagon and Snob effect. (02 marks)
(ii) Mention any two reasons that may lead to an increase in demand of a
product after an increase in its price. (02 marks)
(e). (i) Define a perspective plan. (01 mark)
(ii) Outline any three prerequisites for successful economic planning. (03 marks)
SECTION B (80 MARKS)
Answer any four questions from this section.
2. (a). Distinguish between price ceiling and price floor. (04 marks)
(b). Asses the implication of minimum price legislation. (16 marks)
3. (a). Define Debt redemption. (02 marks)
(b). Briefly explain any six methods of clearing public debts. (12 marks)
(c) Outline any six negative roles of public debts in economic development. (06 marks)
4. (a). Give eight forms of protectionism. (08 marks)
(b). Explain the arguments against protectionism in developing countries? (12 marks)
5. (a). Describe the features of a good economic development plan. (08 marks)
(b). Why may economic development planning be necessary in an economy? (12 marks)
6. (a). What is meant by the term managed floating exchange rate? (04 marks)
(b). Examine the merits and demerits of a managed floating exchange rate in an
economy. (16 marks)
7. (a) Account for the high rates of structural unemployment in developing countries.
(08 marks)
(b) Suggest policy measures that can be taken to reduce unemployment in an economy.
(12 marks)
END
KWGSA Joint Mock Examinations 2024 Page 2 of 2
