KASNEB Economics - Question 1c

Highlight factors that might lead to a rightward shift of the optimal point of a firm.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2b

Summarise factors that could lead to a leftward shift of the supply curve of a commodity.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3b

Highlight factors that determine the effectiveness of trade unions in a society.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3c

Discuss applications of elasticity of demand in economic decision making.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5b

Enumerate effects of inflation on the functions of money.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5c

Outline limitations of the theory of comparative advantage as used in international trade.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6a

Examine roles of foreign exchange reserves in an economy.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6b

Describe factors that determine the terms of trade in a country.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6c

Explain causes of high levels of external debt in developing countries.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6d

Analyse functions of non-banking financial institutions in an economy.... [Click to view full question and step-by-step solution]

May 2019

Q: KASNEB Economics - Question 1b

(i) Distinguish between 'perfect oligopoly' and 'imperfect oligopoly'(ii) Describe methods used in fixing prices under the oligopoly market. structure.... [Click to view full question and step-by-step solution]

Q: KASNEB Economics - Question 2c

(i) The total cost function.(ii) The variable cost function.(iii) The total profit of the firm when Q = 10 units.... [Click to view full question and step-by-step solution]

Q: KASNEB Economics - Question 3a

(i) Explain the difference between the 'cardinal approach' and the 'ordinal approach' to measuring utility.(ii) Outline limitations of the cardinal approach ... [Click to view full question and step-by-step solution]

1a

Money and banking

(i) Explain the Keynesian liquidity preference theory of demand for money.
(ii) Outline criticisms of the theory in (a) (i) above.

1b

Demand, supply and determination of equilibrium

(i) Distinguish between "perfect oligopoly" and "imperfect oligopoly"
(ii) Describe methods used in fixing prices under the oligopoly market. structure.

1c

Demand, supply and determination of equilibrium

Highlight factors that might lead to a rightward shift of the optimal point of a firm.

2a

Introduction to economics

(i) Enumerate characteristics of a free market economic system.
(ii) State advantages of a free market economic system.

2b

Demand, supply and determination of equilibrium

Summarise factors that could lead to a leftward shift of the supply curve of a commodity.

2c

Demand, supply and determination of equilibrium

(i) The total cost function.
(ii) The variable cost function.
(iii) The total profit of the firm when Q = 10 units.

3a

Introduction to economics

(i) Explain the difference between the "cardinal approach" and the "ordinal approach" to measuring utility.
(ii) Outline limitations of the cardinal approach to measuring utility.

3b

National income

Highlight factors that determine the effectiveness of trade unions in a society.

3c

Demand, supply and determination of equilibrium

Discuss applications of elasticity of demand in economic decision making.

4a

Demand, supply and determination of equilibrium

With the aid of a well labelled diagram, explain the equilibrium level of a firm operating under an oligopolistic market structure,

4b

Demand, supply and determination of equilibrium

Summarise reasons why the prices of agricultural products fluctuate more than the prices of manufactured products

4c

National income

Suggest policy measures that could be adopted by a government to enhance geographical mobility of labour within a country.

4d

Demand, supply and determination of equilibrium

(i) The average variable costs when the units produced are 2, 6 and 10 respectively.
(ii) The marginal costs of production for the 4th and 8 th units respectively.

5a

Inflation and unemployment

Differentiate between "demand deficient unemployment" and "disguised unemployment" as used in economics.

5b

Money and banking

Enumerate effects of inflation on the functions of money.

5c

Introduction to economics

Outline limitations of the theory of comparative advantage as used in international trade.

5d

National income

The following data relate to the consumption function of a hypothetical economy in millions of shillings:

C = 300 + 0.6y

Where:

C is the consumption function. y is the national income.

(i) The investment function.

(ii) Discuss factors that determine the level of consumption in an economy.

6a

Money and banking

Examine roles of foreign exchange reserves in an economy.

6b

Inflation and unemployment

Describe factors that determine the terms of trade in a country.

6c

Economic growth, economic development and economic planning

Explain causes of high levels of external debt in developing countries.

6d

Money and banking

Analyse functions of non-banking financial institutions in an economy.

7a

National income

Argue cases against the use of national income statistics to compare the standards of living between countries.

7b

Demand, supply and determination of equilibrium

With the aid of an appropriate diagram, explain the relatioaship between the short run average cost curve and the long run average cost curve.

7c

National income

The following information relates to the commodity and money markets of a certain closed economy in millions of shillings:

Commodity market

C = 200 + 0.4y

I = 1,900 - 12r

Money market

MDT =0.5y

MDS =100 - 10r

MS = 1,500

Where: C = Consumption function

y = National income

I = Investment function

r = Rate of interest

MDT = Speculative demand for money

MDs = Money supply

Required:

(i) The IS function.

(ii) The LM function.

(iii) The equilibrium level of interest rate

(iv) The equilibrium level of national income.

May 2019

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