| University | Institute of Maritime & Business Management (IMBM) |
| Subject | FE2318 Fundamentals Of Economics |
Section A :
You are required to answer any three (3) questions out of the four (4) questions provided below. Each question carries the same marks weightage.
You may include graphs to support your answers where applicable.
Please read and follow the instructions & requirements set out on this question paper and the NCE/examination guidelines.
1. Describe the three (3) types of Economic Systems and explain the advantages and disadvantages of Command Economy.
2. Give four (4) non-price determinants of demand with examples.
3. What is price elasticity of demand and give three (3) determinants of the price elasticity of demand with examples.
4. With examples, explain four (4) conditions of Monopoly.
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