General Economics (ABAP2201)
Agribusiness Technology - ABT
Semester: Second Semester
Level: 200
Year: 2019
REPUBLIC OF CAMEROON THE UNIVERSITY OF BAMENDA
Peace - Work – Fatherland P.O. BOX 39 Bambili
School: College of Technology
Department:
Agribusiness Technology
Lecturer: Prof. Ofeh Moses
Course code: Course Title: General Economics
Examination Semester: 2 Date: July 2019 Time: lHour30MlNUTES
Instructions: ANSWER ALL
SECTION A:
ANSWER TRUE OF FALSE
1. The rural population of Cameroon depend on agriculture for its livelihood, thus average
income are high
2. Scarcity and Choice are the only basic concepts of Agricultural Economics
3. Total Product and Total Utility increase continuously
4. When the demand curve is pivoted to the right, this result to income effect
5. When the demand curve is pivoted to the left, this result to substitution effect
6. Human wants are infinite in the situation of unlimited resources
7. A shift in demand, other things being equal result to an increase in the price of a good
8. The demand curve is always linear
9. The PPC also indicates specialization
10. The Capitalist system is the best
SECTION B
1. Given the information below about a farmer producing a good
Price
10
9
Quantity Demanded 40 50
i) Calculate the Price Elasticity
ii) What advice can you give to a farmer producing this type of good with the intention
to increase price
2. Complete the Table Below
Worker
0 1 2
3 4 5
6
7
8
9
TP
0
40 70 90
100
105 105
100
90 85
AP
MP
At what level of Worker will AP start experiencing diminishing returns
What is the relationship of AP with MP at that Level
3. Write short notes on the type of problem facing farmers in Cameroon (Maximum Half a
page)
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