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CPA Economics – August 2024 Past Paper & Answers

Unit: Economics

23 Questions

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Questions

Download CPA Economics August 2024 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
Demand, supply and determination of equilibrium
​​(i) Explain the concept of “price ceiling”. 

(ii) Discuss THREE advantages of setting price ceilings.
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1b
Demand, supply and determination of equilibrium
​​Describe FOUR types of labour mobility.
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1c
Money and banking
​​Enumerate FOUR challenges of capping interest rates in a country.
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1d
Economic growth, economic development and economic planning
​​Describe FOUR strategies that developing countries might apply to correct the balance of payment deficit.
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2a
Demand, supply and determination of equilibrium
​ ​​Using a well labelled diagram, illustrate the regressive supply curve of labour.
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2b
Demand, supply and determination of equilibrium
​​Explain THREE exceptions to the law of diminishing marginal utility.
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2c
Economic growth, economic development and economic planning
​​State FOUR challenges faced by small scale industries in developing countries.
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2d
Economic growth, economic development and economic planning
​​Outline FOUR characteristics of developing countries.
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3a
Money and banking
​​Outline SIX roles played by commercial banks in the economic development of a country.
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3b
Economic growth, economic development and economic planning
​​Argue SIX cases for restrictions in international trade.
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3c
National income
​ ​ ​​The following information represents the national income of country X in billions of shillings. 
 
C = 220 + 0.8Yd 
T = 30 + 0.1Y 
I = 70 
G = 20 
 
Where:  C = Consumption expenditure 
 T = Taxes 
 G = Government expenditure 
 Yd = Disposable income 
 
Required: 
(i) The marginal propensity to save.
 
(ii) The multiplier.

(iii) The consumption expenditure. 
 
(iv) The equilibrium level of national income and taxes. 
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4a
Economic growth, economic development and economic planning
​​State FIVE factors that limit the success of economic integration in developing countries.
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4b
Economic growth, economic development and economic planning
​​Distinguish between “debt distress” and “debt conversion”.
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4c
Economic growth, economic development and economic planning
​ ​​Outline SIX methods that may be adopted to clear external debts in developing countries.
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5a
Introduction to economics
​​Explain THREE demerits of the deductive method of economic analysis.
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5b
Economic growth, economic development and economic planning
​​Discuss THREE forms of economic integration in relation to international trade.
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5c
Introduction to economics
​​Describe how the concept of opportunity cost is applied in decision making with respect to:

(i) Consumers.

(ii) Firms.

(iii) Governance.

(iv) International trade.

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6a
Economic growth, economic development and economic planning
​​State FIVE features that influence the level of Foreign Direct Investment (FDI).
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6b
Money and banking
​​Explain FOUR determinants of money supply in an economy.
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6c
Demand, supply and determination of equilibrium
​ ​ ​​Using a well labelled diagram, illustrate the long-run equilibrium of a monopoly firm.
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7a
National income
​ ​​Using well labelled diagrams, distinguish between “inflationary gap” and “deflationary gap” as used in national income statistics.
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7b
National income
​​Highlight FOUR principles of a good tax system.
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7c
Demand, supply and determination of equilibrium
​ ​​A firm operating in a perfectly competitive market has the demand and total cost functions represented by the

following:

P = 40 – 60Q

TC = 100 + 50Q – 80Q2

Where;

P = Price

Q = Quantity

TC = Total cost

Determine:

(i) Average fixed cost function.

(ii) Average variable cost function.

(iii) Marginal cost function.

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