Agriculture and Industry – Questions and Answers

Subject Title: Economics Revision Kit

TOPIC: Agriculture and Industry

QUESTION 1
August 2021 Question Two E
Using a suitable example, explain the term “transfer payments”. (2 marks)

QUESTION 2
August 2021 Question Three A
Highlight six economic factors that may contribute to poor performance of the agricultural sector in developing countries. (6 marks)

QUESTION 3
November 2020 Question one A
Explain four methods used by the government to stabilise agricultural prices. (4 marks

QUESTION 4
May 2019 Question Four B
Summarise five reasons why the prices of agricultural products fluctuate more than the prices of manufactured products. (5 marks)

QUESTION 5
May 2018 Question three B
Suggest your reasons why waves in the agricultural sector tend to be lower than wages in the industrial sector. (1 marks)

QUESTION 6
November 2017 Question Three B
With the aid of well labelled diagrams, analyse the effects of each of the following situations on the market equilibrium price and quantity of an agricultural product X:
(i) A reduction in the price of product Y which is a close substitute for product X.
(4 marks)
(ii) A successful promotional campaign by producers showing the nutritional benefits of product X. (4 marks)
(iii) Discovery of a new use for product X by consumers, accompanied by bad weather condition. (4 marks)
(iv) Simultaneous increase in government subsidy on product X accompanied by a reduction in the price of the substitute product Y. (4 marks)

QUESTION 7
November 2017 Question five C
Highlight ten problems that are faced by the agricultural sector in developing countries.
(10 marks)
QUESTION 8
November 2015 Question Four B
Enumerate five changes in the tax policy that could be implemented by a government to spur growth in the agricultural sector. (5 marks)

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