KASNEB Economics - Question 1a

Highlight FOUR factors that cause a downward shift in the demand curve. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 1b

Explain THREE reasons for the fluctuation of commodity prices in the agricultural sector. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 1d

State FOUR disadvantages of a perfectly competitive market. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2a

With an aid of a well labelled diagram, explain the concept of Production Possibility Frontier (PPF). ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2b

Argue THREE cases in favour of Foreign Direct Investment (FDI) in least developed countries. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2d

Summarise FOUR types of unemployment in least developed countries. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3a

(i) Explain the term “monetary policy”. (ii) Identify FOUR objectives of fiscal policies. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3c

Using an appropriate diagram, explain FOUR properties of indifference curves. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 4b

Examine FOUR reasons why the demand curve is negatively sloped. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5a

Explain FIVE disadvantages of a managed floating exchange rate. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5b

Outline FIVE reasons why the high cost of living is a major policy issue in developing countries. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5d

Outline FIVE objectives of minimum wage legislation. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6a

Identify FIVE obstacles to economic growth and development in developing countries. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6c

State FIVE circumstances under which price control is necessary. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6d

The following information relate to the national income figures of a certain economy in billions of shillings: YearNominal Gross National Product (GNP)Re... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7b

With the help of a well labelled diagram, explain the stages of the law of diminishing returns. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7d

Outline THREE measures that developing countries might use to promote agricultural production. ... [Click to view full question and step-by-step solution]

April 2024

1a

Demand, supply and determination of equilibrium

Highlight FOUR factors that cause a downward shift in the demand curve.

1b

Demand, supply and determination of equilibrium

Explain THREE reasons for the fluctuation of commodity prices in the agricultural sector.

1c

National income

Using a well labelled diagram, illustrate the circular flow of income in an open economy with no government interference.

1d

Demand, supply and determination of equilibrium

State FOUR disadvantages of a perfectly competitive market.

2a

Introduction to economics

With an aid of a well labelled diagram, explain the concept of Production Possibility Frontier (PPF).

2b

Economic growth, economic development and economic planning

Argue THREE cases in favour of Foreign Direct Investment (FDI) in least developed countries.

2c

Demand, supply and determination of equilibrium

(i) Explain the term “consumer equilibrium”.

(ii) Using a well labelled diagram of indifference curves, illustrate the consumer’s equilibrium point.

2d

Inflation and unemployment

Summarise FOUR types of unemployment in least developed countries.

3a

Money and banking

(i) Explain the term “monetary policy”.

(ii) Identify FOUR objectives of fiscal policies.

3b

National income

The following information relates to a given economy:

Marginal prospensity to save (MPS) = 0.2

Autonomous consumption = 400

Required:

(i) Formulate the consumption function. (3 marks)

(ii) Determine the change in National Income if the Government’s expenditure was to increase by 50%.

3c

Demand, supply and determination of equilibrium

Using an appropriate diagram, explain FOUR properties of indifference curves.

4a

Economic growth, economic development and economic planning

Enumerate FIVE challenges that could contribute to ineffectiveness of trade unions in developing countries.

4b

Demand, supply and determination of equilibrium

Examine FOUR reasons why the demand curve is negatively sloped.

4c

Demand, supply and determination of equilibrium

Using a well labelled diagram, differentiate between “movements along a supply curve” and “shifts in supply curve”.

4d

Economic growth, economic development and economic planning

Propose FIVE policy measures that the government of a country could take to accelerate economic development.

5a

Money and banking

Explain FIVE disadvantages of a managed floating exchange rate.

5b

Inflation and unemployment

Outline FIVE reasons why the high cost of living is a major policy issue in developing countries.

5c

Demand, supply and determination of equilibrium

With the help of a diagram, explain the relationship between the marginal cost curve and the average total cost curve.

5d

Inflation and unemployment

Outline FIVE objectives of minimum wage legislation.

6a

Economic growth, economic development and economic planning

Identify FIVE obstacles to economic growth and development in developing countries.

6b

Demand, supply and determination of equilibrium

Ubromaxtek University has opened Satellite Campus in a neighbouring country. It has been estimated that the annual fixed cost of the Satellite Campus is USD 48,900. The fees to be charged per student and the variable cost per unit are USD 1,025 and USD 837 respectively.

Required:

(i) Determine the number of students that Satellite Campus should enrol in order to break-even.

(ii) Using the level of enrolment in (b) (i) above, calculate the expected level of profits.

6c

Demand, supply and determination of equilibrium

State FIVE circumstances under which price control is necessary.

6d

National income

The following information relate to the national income figures of a certain economy in billions of shillings:

Year	Nominal Gross National Product (GNP)	Real GNP
2000	1,359	1,359
2010	2,857	1,623

Required:

(i) Determine the GNP implicit price deflator.

(ii) Calculate the rate of inflation.

7a

Demand, supply and determination of equilibrium

(i) Explain the term “producer equilibrium” as used in economics.

(ii) Highlight FIVE assumptions of producer surplus.

7b

Demand, supply and determination of equilibrium

With the help of a well labelled diagram, explain the stages of the law of diminishing returns.

7c

Inflation and unemployment

Explain FOUR monetary policies that the central bank of a country might apply to control inflation.

7d

Economic growth, economic development and economic planning

Outline THREE measures that developing countries might use to promote agricultural production.

April 2024

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