Africa Medical Coltege Busia Beonomics Final Exam 45% (Med tine 1.20 mainatea) Dept _ID. Mille chic, please cirte ihe poprnts Meer lor the folomiine questions (1 point ea) i © Fite competition is usualy tad Oligopoly B Monopetistc competition & Perfect competition & Allottieabove Labour force consiss ot ai those & who are &t for work B. who are willing vo wor & who ste available for work 4 all ofthe above Fae ee Serves ace valet te prevailing pric Wa valuation at: 4 coiisiant price ‘arent price & cost price Letra ordinary peice 4 Fa BR willbe nesaeiah a 56064 pos {SBS and inp a cgunt & imps orcced anyone 4, 068 of tie abose of the year, it will sult in Now of, HS ae iloeal sciition ee iil social activities Ome are easily the quantiPart Five work out question telat) 1. Based on she following Demand aad sup Two Polis Bich 2. Draw the demand and supply eurves properly? aquantity graph he praph?: oad and Fac cine the dren bye lr income roeived om Pe income aceruing o foreigners, under perfect competition is pricemaet ‘ lat th on ls nd may upon eel comet P is unltited pecause hlshe can determine both price and quantity When the demand for goods and inflation. _—_Himans are emotional and easily distracted beings; th © their self-interest. exceeds the available supply, We call it cost-push make decisions that are not in is the ageregate market Value of all final goods and services produced by somal sets Se = y ‘0 classics nomics, which assumes oe differs fom neoclassical economies, which ssumes tat most people have Wel ‘well-informed, sointerested decisions based on those that when hivaians ay the conditions of searvity, they would choose the