S5 Economics Revision Exercise 3 – Trinity College Nabbingo

This teacher-prepared revision exercise from Trinity College Nabbingo provides Senior 5 economics questions on basic economic concepts and demand. Learners distinguish scarcity from opportunity cost, identify applications of opportunity cost, and compare market and command economies. Other short questions address reserve prices and effective demand. Section B asks learners to explain producers’ pricing decisions, changes in commodity demand in Uganda, and factors affecting price elasticity of demand. Prepared by Ms. Nabulya Mary Kintu, the one-page resource combines definitions, comparisons and extended explanations. It contains questions only, with no answers or marking guide.