Economics Essay Test
1. Explain the concept of supply and demand in economics (10 marks):
2. Describe the role of government in regulating the economy (10 marks):
3. (a) Define inflation and discuss its effects on an economy (15 marks):
(b) Explain the concept of fiscal policy and its tools (15 marks):
4. Discuss the advantages and disadvantages of international trade (20 marks):
5. (a) Define the term "Gross Domestic Product (GDP)" and explain how it is calculated (15 marks):
(b) Analyze the factors that contribute to economic growth in a country (15 marks):
