PAST PAPER SOLUTIONS
ECONOMICS TUTOR
ECS1500
ECS1500 EXAM PACK
2014-2017 SOLUTIONS
0|Page
,CONTENTS
❖ May/June 2017
❖ May/June 2016
❖ May/June 2015
❖ October/November 2017
❖ October/November 2014
1|Page
,2|Page
, MAY JUNE 2017
SECTION A – COMPULSORY WRITTEN QUESTIONS
Question 1
(1a) In the market for milk two things happen simultaneously: first, due to
increased subsidies from government, there was an increase in the number of
dairy farmers. Second, due to unfavourable economic growth, the average income
per household has decreased. The effect of the subsidies is larger than the effect
of the decreased income per household. Draw the market for milk and show the
all changes. (5)
(1b) Critically discuss your answer in question 1a, explaining the curves and
making reference to any changes.
3|Page
ECONOMICS TUTOR
ECS1500
ECS1500 EXAM PACK
2014-2017 SOLUTIONS
0|Page
,CONTENTS
❖ May/June 2017
❖ May/June 2016
❖ May/June 2015
❖ October/November 2017
❖ October/November 2014
1|Page
,2|Page
, MAY JUNE 2017
SECTION A – COMPULSORY WRITTEN QUESTIONS
Question 1
(1a) In the market for milk two things happen simultaneously: first, due to
increased subsidies from government, there was an increase in the number of
dairy farmers. Second, due to unfavourable economic growth, the average income
per household has decreased. The effect of the subsidies is larger than the effect
of the decreased income per household. Draw the market for milk and show the
all changes. (5)
(1b) Critically discuss your answer in question 1a, explaining the curves and
making reference to any changes.
3|Page
