1 A) Write short notes on the following; (10Marks) Discuss the difference between mixed economy and free market economy Explain the law of diminishing marginal utility Explain the Concept of consumer sovereignty Distinguish between Macroeconomics and Microeconomics. What is 'Production possibility frontier'? B) Briefly explain reasons why economics is important to the consumers (5 Marks) C) Explain the methodologies of studying economics (6Marks) D) Explain the two approaches used to explain the consumer satisfaction. Demonstrate using the indifference curves (4Marks) E) Explain the main advantages of Specialization (5Marks)