Economics

Topics: Economics, Inflation, Keynesian economics Pages: 2 (425 words) Published: August 29, 2013
FINAL EXAMINATION
PROGRAMME: MASTER OF BUSINESS ADMINISTRATION (MBA): GENERAL AND TOURISM- YEAR ONE MODULE: ECONOMICS DATE: 21 NOVEMBER 2011 DURATION: 3 Hours EXAMINER: Mr I Govender INTAKE: JANUARY 2011 TIME: 09h00 – 12h00 TOTAL MARKS: 100 MODERATOR: Dr D Mukuvisi

INSTRUCTIONS TO THE CANDIDATE:
1. Questions must be attempted in the answer book provided. 2. All queries should be directed to the invigilator; do not communicate or attempt to communicate with any other candidate. 3. You have THREE HOURS to complete this paper. You are not allowed to leave the examination room within the first hour and in the last 15 minutes of this examination. 4. This is a CLOSED BOOK examination. 5. Answer ALL questions.

1

QUESTION ONE produced in an economy at any given moment, given the resources available.

(20 marks)

The production possibility frontier or curve (PPF or PPC) shows the maximum output that can be Using an appropriate example, discuss the Production Possibility Curve with reference to the factors that cause shifts along the curve. QUESTION TWO (20 marks)

The Keynesian Theory is the belief that the free market economy is inherently unstable. The theory implies that some form of government intervention is required to alter macro-economic outcomes. With regards to the above theory, discuss the stage of the business cycle that your country is currently experiencing and explain how government intervention has either helped or hindered economic growth in the past. QUESTION THREE ceiling for maize at USD280.00 per ton for the 2010/2011 marketing season. With reference to the scenario above, discuss with the aid of diagrams why governments such as the Zimbabwean government intervenes by setting price ceilings. QUESTION FOUR (20 marks) (20 marks)

Assume the Zimbabwean government through the Grain Marketing Board (GMB) set a producer price

Economic analysts across the globe have heavily criticised monopolies as being the major causes of poor...
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