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CPA Economics – April 2025 Past Paper & Answers

Unit: Economics

26 Questions

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Questions

Download CPA Economics April 2025 past paper with detailed answers and marking scheme. This paper is based on KASNEB examination standards and is ideal for revision and exam preparation.

Access the full paper online, download the PDF, or study offline. Each question includes step-by-step solutions to help you understand key concepts in Economics.

Other Economics Past Papers

1a
Introduction to economics
​ ​​Explain THREE basic economic problems
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1b
Money and banking
​​Analyse the THREE motives of holding money as advanced by the Keynesian liquidity preference theory.
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1c
Inflation and unemployment
​​Identify EIGHT policy measures that could be adopted by developing countries to encourage industrial development.
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2a
Demand, supply and determination of equilibrium
​​Outline FOUR assumptions underlying consumer rational behavior.
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2b
Demand, supply and determination of equilibrium
​​Highlight SIX features of monopolistic competitive firms.
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2c
Introduction to economics
​​Explain FIVE applications of production possibility curves in economics.
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3a
Demand, supply and determination of equilibrium
​ ​​Given the demand function: 

​\(Q = 350 – 1.5Q + {\large \frac{70}{p^2}}\)​

Required: 
(i) Determine the point elasticity of demand when price is Sh.10.

(ii) Interpret your results.
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3b
Money and banking
​​Identify FIVE positive effects of high interest rates in an economy.
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3c
Demand, supply and determination of equilibrium
​​Outline FIVE limitations of indifference curve analysis.
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3d
National income
​ ​ ​​Distinguish between the “fiscal multiplier” and the “export multiplier”.
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4a
Demand, supply and determination of equilibrium
​​Identify FIVE conditions that are necessary for effective use of price discrimination in an economy.
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4b
Money and banking
​​Explain FOUR functions of money.
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4c
Demand, supply and determination of equilibrium
​​Outline FIVE advantages of a perfectly competitive market.
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4d
Money and banking
​​Summarise SIX factors that might determine the exchange rate of a country’s currency.
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5a
Economic growth, economic development and economic planning
​​Highlight FIVE limitations of economic planning in developing countries
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5b
Economic growth, economic development and economic planning
​​Explain FOUR advantages of localisation of industries in a country.
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5c
Demand, supply and determination of equilibrium
​ ​ ​ ​ ​​Using an appropriate diagram, illustrate the relationship between marginal product curve (MP) and average product curve (AP).
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5d
Demand, supply and determination of equilibrium
​ State SIX factors that may influence price elasticity of demand
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6a
Demand, supply and determination of equilibrium
​​Distinguish between “variable costs” and “fixed costs”.
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6b
Introduction to economics
​​Describe FIVE ways in which a government may influence allocation of resources
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6c
Demand, supply and determination of equilibrium
​​Outline FIVE determinants of supply in an economy.
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6d
Money and banking
​​Explain THREE conditions necessary for devaluation of a currency to be effective.
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7a
National income
​​The following data represents estimated national income of an economy in millions of shillings:

Gross national product (at market prices) 
= 498.5 
Depreciation allowance 
= 56.0 
Indirect taxes less subsidies 
= 52.4 
Business taxes 
= 13.5
Personal income taxes 
= 76.2 
Government transfers 
= 68.2 
Retained profits 
= 15.0 

Required:
Determine the following: 

(i)
Net National Product at market price. 
(ii)
Disposable income. 
(iii)
Personal income. 
(iv)
Net National Income at factor cost. 

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7b
Inflation and unemployment
​​Outline THREE causes of cost-push inflation.
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7c
Economic growth, economic development and economic planning
​​Explain FIVE arguments against international trade restrictions.
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7d
Demand, supply and determination of equilibrium
​​Identify FOUR factors that might influence the price of labour as a factor of production.
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