GABORONE UNIVERSITY COLLEGE OF LAW AND PROFESSIONAL STUDIES

DIPLOMA IN MARKETING

LEVEL 1 SEMESTER 1

MID-SEMESTER EXAMINATION

MARCH-APRIL 2023

MICROECONOMICS

TIME: 3 HOURS

TOTAL MARKS:100

INSTRUCTIONS TO THE CANDIDATES

 Answer All Questions

 Clearly number each question and Each section appropriately
 Take note of marks allocated to each subsection of a question
 All queries should be directed to the invigilator
 You can answer questions in any order
 Candidates caught cheating will be disqualified.
1. .
Question 1
Explain the factors that determine demand(25)

Question 2
Explain the following terms,
i) Choice
ii) Opportunity cost
iii) Scarcity
iv) Production possibility curve
(25 Marks)

Question 3
a) Explain the possible causes of the inward or left wards ship in the production
possibility curve (PPC) (15 marks)
b) Explain the possible causes of the outward or right wards ship in the
production possibility curve (PPC) (10 marks)

QUESTION 4

Explain the following terms.

a) Factors of production
b) Free market economy
c) Planned economy
d) Mixed economy

(25 marks)

END OF EXAMINATION