KASNEB Economics - Question 1b

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

KASNEB Economics - Question 1c

With the aid of a diagram, explain the concept of consumer surplus.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2a

Enumerate six factors that could lead to a rightward shift of the supply curve.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2b

State six assumptions of the marginal productivity theory of wage determination.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2c

Summarise eight factors that could affect own price elasticity of demand of a commodity... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5b

The table below shows the total variable costs of Ujuzi Limited at different levels of output.Level of output(units)Total variable cost(Sh)012345678080,000130,0... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6a

Outline five factors that determine the rate of exchange of a country's currency.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6b

Enumerate five roles of the central bank in an economy... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7a

Explain the relationship between money supply and the level of inflation in an economy... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7b

State six advantages of a floating exchange rate system in an economy.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7d

The economic transactions for a hypothetical economy in thousands of shillings are given as follows:SectorTotal outputSh.'000'Intermediate purchaserSh.'000'Serv... [Click to view full question and step-by-step solution]

November 2016

Q: KASNEB Economics - Question 1a

(i) Explain the term 'price control' as used in economics.(ii) Highlight eight reasons for price controls in an economy. ... [Click to view full question and step-by-step solution]

1a

Demand, supply and determination of equilibrium

(i) Explain the term "price control" as used in economics.
(ii) Highlight eight reasons for price controls in an economy.

1b

Economic growth, economic development and economic planning

Outline six advantages of a controlled market system.

1c

Demand, supply and determination of equilibrium

With the aid of a diagram, explain the concept of consumer surplus.

2a

Demand, supply and determination of equilibrium

Enumerate six factors that could lead to a rightward shift of the supply curve.

2b

National income

State six assumptions of the marginal productivity theory of wage determination.

2c

Demand, supply and determination of equilibrium

Summarise eight factors that could affect own price elasticity of demand of a commodity

3a

Demand, supply and determination of equilibrium

With the aid of well labelled diagrams, discuss the short run and long run equilibrium positions of a firm operating under monopolistic competition.

3b

Demand, supply and determination of equilibrium

A monopolist sells his product in two distinct markets, A and B. The cost function of the monopolist is given as;
C = 100Q
Where: C is the total cost function
Q is the total production in units
The demand functions of the two distinct markets are given as:
Q_A = 50 - 0.2P_A
Q_B = 100 - 0.5P_B
Where,
Q_A is the demand of the product in market A.
Q_B is the demand of the product in market B.
P_A the price of the product in market A.
P_B is the price of the product in market B
Required:
(i) The equilibrium level of price and quantity of the product in market A
(ii) The equilibrium level of price and quantity of the product in market B

4a

Economic growth, economic development and economic planning

Highlight five strategies that could be implemented by governments in developing countries to spur growth in the industrial sector.

4b

Demand, supply and determination of equilibrium

Using an appropriate diagram, describe the expansion curve of a firm as applied in the theory of production.

4c

National income

Discuss ten limitations of using national income statistics to compare the standards of living between different countries.

5a

Economic growth, economic development and economic planning

The United Kingdom (UK) recently withdrew its membership from the European Union (EU), a process that was referred to as "Brexit". Analyse the likely economic effect of "Brexit" on the United Kingdom's:
(i) Exchange rates.
(ii) Interest rates.
(iii) Inflation rate.
(iv) Securities exchange market

5b

Demand, supply and determination of equilibrium

The table below shows the total variable costs of Ujuzi Limited at different levels of output.

Level of output(units)	Total variable cost(Sh)
0 1 2 3 4 5 6 7 8	0 80,000 130,000 200,000 270,000 310,000 510,000 530,000 580,000

The total fixed cost of the company is Sh. 150,000.
Required:
(i) The average cost of producing each level of output.
(ii) The marginal cost of producing each level of output.
(iii) The maximum attainable profit.

6a

Money and banking

Outline five factors that determine the rate of exchange of a country's currency.

6b

Money and banking

Enumerate five roles of the central bank in an economy

6c

Inflation and unemployment

Suggest five policy measures that could be adopted to reduce the level of unemployment in a developing country

7a

Money and banking

Explain the relationship between money supply and the level of inflation in an economy

7b

Money and banking

State six advantages of a floating exchange rate system in an economy.

7c

Economic growth, economic development and economic planning

Summarise eight challenges that hinder successful achievement of national development targets set by developing countries

7d

Economic growth, economic development and economic planning

The economic transactions for a hypothetical economy in thousands of shillings are given as follows:

Sector	Total output Sh."000"	Intermediate purchaser Sh."000"
Service Agricultural Manufacturing	76,000 55,000 110,000	37,000 23,000 69,000

Indirect taxes and fixed assets depreciation amount to Sh.21,000,000 and Sh.22.000.000 respectively.

Required:
(i) Gross national product using the value added approach.

(ii) Net domestic product at market price

(iii) Net domestic product at factor cost.

November 2016

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