KASNEB Economics - Question 1a

Enumerate FIVE functions of the World Trade Organisation (WTO). ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 1b

Describe THREE ways that banks create credit. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 1c

List FOUR characteristics of economic resources. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 1d

Outline FIVE ways in which a government could interfere with the price mechanism. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2a

List FOUR components of disposable national income. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2c

Outline FIVE factors that determine the level of demand in an economy. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2d

Identify FIVE reasons why unemployment is a major policy issue in developing countries. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3a

Enumerate FIVE factors that could limit consumer sovereignty. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3c

Explain THREE limitations of the consumer price index. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 4a

Using a well labelled diagram, distinguish between “price floor” and “price ceiling”. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 4b

Explain THREE factors that influence the level of interest rates in an economy. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5a

Explain the following types of inflation: (i) Cost push. (ii) Credit. (iii) Demand pull.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5c

Enumerate FOUR factors that could determine the effectiveness of trade unions. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5d

Outline FOUR features of isoquant curves. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6a

Outline FOUR disadvantages of a controlled market system. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6b

The demand and total cost function for a certain firm are represented as follows: P = 400 – 4q TC=q2+10q+30TC=q2+10q+30Where: P is the price TC is the tota... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6c

Discuss THREE motives of holding money as advanced by the Keynesian liquidity preference theory. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7a

Outline SIX characteristics of a good economic development plan. ... [Click to view full question and step-by-step solution]

December 2022

1a

Economic growth, economic development and economic planning

Enumerate FIVE functions of the World Trade Organisation (WTO).

1b

Money and banking

Describe THREE ways that banks create credit.

1c

Introduction to economics

List FOUR characteristics of economic resources.

1d

Demand, supply and determination of equilibrium

Outline FIVE ways in which a government could interfere with the price mechanism.

2a

National income

List FOUR components of disposable national income.

2b

National income

Explain SIX problems that an economist could encounter when comparing welfare between different countries.

2c

Demand, supply and determination of equilibrium

Outline FIVE factors that determine the level of demand in an economy.

2d

Inflation and unemployment

Identify FIVE reasons why unemployment is a major policy issue in developing countries.

3a

Demand, supply and determination of equilibrium

Enumerate FIVE factors that could limit consumer sovereignty.

3b

Demand, supply and determination of equilibrium

With the aid of a well labelled diagram, explain the THREE stages of production according to the law of diminishing marginal returns.

3c

Demand, supply and determination of equilibrium

Explain THREE limitations of the consumer price index.

4a

Demand, supply and determination of equilibrium

Using a well labelled diagram, distinguish between “price floor” and “price ceiling”.

4b

Money and banking

Explain THREE factors that influence the level of interest rates in an economy.

4c

Economic growth, economic development and economic planning

State SIX policy measures that a country could adopt to avoid the risk of not being able to honour her foreign debts.

5a

Inflation and unemployment

Explain the following types of inflation:

(i) Cost push.

(ii) Credit.

(iii) Demand pull.

5b

Economic growth, economic development and economic planning

State SIX policy measures that could be adopted by developing countries to encourage industrial development.

5c

Inflation and unemployment

Enumerate FOUR factors that could determine the effectiveness of trade unions.

5d

Demand, supply and determination of equilibrium

Outline FOUR features of isoquant curves.

6a

Introduction to economics

Outline FOUR disadvantages of a controlled market system.

6b

Demand, supply and determination of equilibrium

The demand and total cost function for a certain firm are represented as follows:

P = 400 – 4q

$TC = q^{2} + 10 q + 30$

Where:

P is the price
TC is the total cost
q is the quantity

Required:

(i) The marginal cost function.

(ii) The marginal revenue function.

(iii) The average variable cost function.

(iv) The profit maximising level of output.

(v) The maximum profit.

6c

Money and banking

Discuss THREE motives of holding money as advanced by the Keynesian liquidity preference theory.

7a

Economic growth, economic development and economic planning

Outline SIX characteristics of a good economic development plan.

7b

National income

The following data relates to the national income of a certain country in billions of shillings:

C = 500 + 0.6Yd

I = 350

G = 250

T = 200

X - M = 280 - 0.1Y

Where:

G = Government expenditure

C = Consumption

I = Investment

T = Taxes

X = Exports

M = Imports

Y = National income

Required:

(i) The equilibrium level of national income.

(ii) The equilibrium level of consumption expenditure.

(iii) The multiplier.

7c

Demand, supply and determination of equilibrium

(i) Explain the law of variable proportions.

(ii) Enumerate FOUR assumptions underlying the law of variable proportions.

December 2022

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