Discuss the factors influencing the (i) demand for, and (ii) supply of a good. (12 marks)

2. (a) Explain the concepts of Price Elasticity of Demand, Income Elasticity of Demand and Cross-Elasticity of Demand. (10 marks)

(b) Discuss the usefulness of these concepts to:- (i) hypermarket managers, and (ii) a government. (20 marks)

3. (a) To what extent can fiscal policy influence Aggregate Demand in an economy?. (15 marks)

(b) " Monetary policy is always effective in regulating economic activities." Discuss.