The utility schedule of a consumer for a brand of ice cream is shown in the table below. Use the information to answer the questions that follow: 
 

(a) Calculate the values of P,Q,and S. (8 marks).

(b) Given that the jprice of ice cream is $ 1.00 per unit, at what level of consumption is the consumer in equilibrium? Explain your answer. (3 marks).

(c) Use a graph sheet, draw the marginal utility curve.(3 marks).

(d) State the law of diminishing marginal utility. (3 marks).

(a) What is production possibility curve? (3marks)

(b) Draw a production possibility curve and indicate any:
(i) Point P, where resources are fully utilized;
(ii) Point U, where resources are under utilized;
(iii) Point X, where production is not feasible. (8 marks)

(c) Explain any two factors that can make production at Point X feasible. (6marks).

(d) Why is the production possibility curve negatively sloped? (3marks)

(a) What is:
(i) peasant farming? (2marks)
(ii) Co-operative farming?(3marks)

(b) Identify any five ways through which government can assist peasant farmers. (15 marks). 

(a) What is price elasticity of supply?(2marks)

(b) Differentiate between joint supply and cometitive supply.(6marks)

(c) Explain any four determinants of elasticity of supply. (12marks)

(a) Define:
(i) Building Society (2marks);
(ii) Central Bank. (3marks)

(b) Highlight any five instruments of the Central Bank in regulating the supply of money. (15marks).