THE UNITED REPUBLIC OF TANZANIA NATIONAL EXAMINATIONS COUNCIL

ADVANCED CERTIFICATE OF SECONDARY EDUCATION 

EXAMINATION

151/1  ECONOMICS 1

(For Both School and Private Candidates)

Time: 3 Hours Wednesday, 04^th May 2016 a.m.

1. This paper consists of eight (8) questions in sections A and B.

2. Answer five (5) questions, choosing at least two (2) questions from each section.

3. Each question carries twenty (20) marks

4. Non programmable calculators may be used.

5. Cellular phones are not allowed in the examination room.

6. Write your Examination Number on every page of your answer booklet(s).

SECTION A

Answer at least two (2) questions from this section.

1. (a) Outline four salient features of a mixed economy. Can Tanzania be sighted as an example of a mixed economy country? Give reason for your answer.

(b) Give five reasons of studying Economics.

2. (a) Distinguish time rate system from piece rate system.

(b) Provide four advantages and four disadvantages of time rate system.

(c) Provide four advantages and four disadvantages of piece rate system.

3. (a) Explain four benefits of using money in the economy.

(b) Describe six necessary criteria for good money.

4. Study the information given in the following Table and answer the questions that follow:

(a) Which market structure is the firm producing?

(b) What is its extra revenue?

(c) What are its fixed costs and extra costs at all levels of output?

(d) What is its profit?

SECTION B

Answer at least two (2) questions from this section.

5. (a) Explain five forms of privatization.

(b) Examine five success of privatization policy in Tanzania.

6. (a) Describe five factors, other than price, which affect the supply of a commodity to change. View Ans