_1). What is the paradox of value?_
_b). Explain four advantage of the well planned economic system._
_2). With the aid of a diagram. Explain the term demand of a commodity._
_b). Mention and explain four types of demand._
_c). Explain why economics consider as a science_
_3). Explain the following_
_i). Change In supply_
_ii). Change in quantity supply_
_iii). Change in demand_
_iv). Equilibrium price_
_v). Equilibrium quantity_
_4). What is price legislation_
_b). Explain the term price flour_.
_c). Explain four disadvantage of price mechanism in allocation resources._
_5). What is the value of money._?
_b). Describe how value of money is measured._
_6). Distinguish between specialization and division of labour._
_b). Explain four advantage of division of labour._
_7). What is inflation?_
_b). How can the central bank control inflation in an economy?_
_8). What are indirect taxes?_
_b). Give reason why a country would adopt in direct taxation instead of direct taxation._
_9). What is population census.?_
_b). Advance four reason for conducting a population census in your country._
_10). Why do you consider your country to be a mixed market economy?_
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