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The table below shows the budgetary allocation of a country to selected sectors of the economy in a particular year. Study the table carefully and answer the questions that follow.

Economics

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Here's the solution to questions 1 and 2 from the image.

Question 1:

a) Present the above information contained in the table in the form of a pie chart. (Show your workings clearly)

  1. Calculate the total budget.

    Total Budget=6,250+2,150+4,300+2,400+2,900=18,000 million\text{Total Budget} = 6,250 + 2,150 + 4,300 + 2,400 + 2,900 = 18,000 \text{ million}
  2. Calculate the percentage and angle for each sector.

    • Education:
    Percentage=6,25018,000×100%≈34.72%\text{Percentage} = \frac{6,250}{18,000} \times 100\% \approx 34.72\% Angle=6,25018,000×360∘=125∘\text{Angle} = \frac{6,250}{18,000} \times 360^\circ = 125^\circ
    • Mining:
    Percentage=2,15018,000×100%≈11.94%\text{Percentage} = \frac{2,150}{18,000} \times 100\% \approx 11.94\% Angle=2,15018,000×360∘=43∘\text{Angle} = \frac{2,150}{18,000} \times 360^\circ = 43^\circ
    • Agriculture:
    Percentage=4,30018,000×100%≈23.89%\text{Percentage} = \frac{4,300}{18,000} \times 100\% \approx 23.89\% Angle=4,30018,000×360∘=86∘\text{Angle} = \frac{4,300}{18,000} \times 360^\circ = 86^\circ
    • Communication:
    Percentage=2,40018,000×100%≈13.33%\text{Percentage} = \frac{2,400}{18,000} \times 100\% \approx 13.33\% Angle=2,40018,000×360∘=48∘\text{Angle} = \frac{2,400}{18,000} \times 360^\circ = 48^\circ
    • Health:
    Percentage=2,90018,000×100%≈16.11%\text{Percentage} = \frac{2,900}{18,000} \times 100\% \approx 16.11\% Angle=2,90018,000×360∘=58∘\text{Angle} = \frac{2,900}{18,000} \times 360^\circ = 58^\circ

    A pie chart would be drawn using these calculated angles for each sector.

    b) What percentage of the budget is allocated to:

    i) Education
    The percentage allocated to Education is 34.72%\boxed{34.72\%}.

    ii) Agriculture
    The percentage allocated to Agriculture is 23.89%\boxed{23.89\%}.

    iii) Health
    The percentage allocated to Health is 16.11%\boxed{16.11\%}.

    Question 2:

    a) The demand function for a commodity is given as Qd = 21-3p. Use the demand function to complete the table below:

  3. Substitute each price (p) into the demand function Qd=21−3pQd = 21 - 3p.

    • For p=0p = 0: Qd=21−3(0)=21Qd = 21 - 3(0) = 21
    • For p=1p = 1: Qd=21−3(1)=18Qd = 21 - 3(1) = 18
    • For p=3p = 3: Qd=21−3(3)=12Qd = 21 - 3(3) = 12
    • For p=4p = 4: Qd=21−3(4)=9Qd = 21 - 3(4) = 9
    • For p=5p = 5: Qd=21−3(5)=6Qd = 21 - 3(5) = 6
    • For p=6p = 6: Qd=21−3(6)=3Qd = 21 - 3(6) = 3

    The completed table is:

    Price ($)013456
    Quantity demanded (kg)211812963

    b) Draw the demand curve for the completed schedule in 1a. (Use of graph sheet is essential)

    To draw the demand curve, plot the points (Price, Quantity Demanded) from the completed table on a graph. Price ($) would typically be on the y-axis and Quantity Demanded (kg) on the x-axis. Connect these points to form a downward-sloping straight line, which represents the demand curve.

    c) Outline any three factors affecting demand.

    • Price of the good: As the price of a good increases, the quantity demanded generally decreases, assuming all other factors remain constant.
    • Income of consumers: For normal goods, an increase in consumer income leads to an increase in demand. For inferior goods, an increase in income leads to a decrease in demand.
    • Prices of related goods: This includes substitutes (goods that can be used in place of another) and complements (goods that are consumed together). An increase in the price of a substitute typically increases demand for the original good, while an increase in the price of a complement typically decreases demand for the original good.
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