KASNEB Economics - Question 1a

Examine four limitations of a planned economic system.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 1b

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

KASNEB Economics - Question 2b

Explain five factors that lead to the external economies of scale in an economy.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 2c

Describe two assumptions of the law of variable proportions.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 3a

Highlight four assumptions of consumer rationality. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 4b

Describe three methods that could be used to measure the national income of a country.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5a

Examine four benefits of a contractionary monetary policy to an economy. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 5b

Explain six factors that determine the level of induced investments in an economy. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6a

Identify four reasons against international trade restrictions.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 6b

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

KASNEB Economics - Question 7a

Enumerate five causes of inequalities in the distribution of income and wealth in an economy.... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7b

Explain five benefits of development planning in an economy. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7c

Distinguish between 'depreciation of a currency' and 'demonetisation of the currency'. ... [Click to view full question and step-by-step solution]

KASNEB Economics - Question 7d

Highlight six possible effects of demonetisation of the currency.... [Click to view full question and step-by-step solution]

November 2019

Q: KASNEB Economics - Question 1d

The following equations are given:Q = -10 + 6P ................... equation (1)Q = 20 - 4P........................equation (ii)Required:(i) Giving reasons, iden... [Click to view full question and step-by-step solution]

1a

Economic growth, economic development and economic planning

Examine four limitations of a planned economic system.

1b

Introduction to economics

With the aid of a diagram, explain the concept of production possibility curve.

1c

Demand, supply and determination of equilibrium

With the help of a diagram, illustrate the concept of surplus as applied in the theory of market equilibrium.

1d

Demand, supply and determination of equilibrium

The following equations are given:

Q = -10 + 6P ................... equation (1)

Q = 20 - 4P........................equation (ii)

Required:

(i) Giving reasons, identify the demand function and the supply function.

(ii) Determine the equilibrium price and quantity.

2a

Introduction to economics

Evaluate three fundamental economic issues that a society has to address to minimise the problem of scarcity of resources.

2b

National income

Explain five factors that lead to the external economies of scale in an economy.

2c

National income

Describe two assumptions of the law of variable proportions.

3a

Introduction to economics

Highlight four assumptions of consumer rationality.

3b

National income

With the aid of a well labelled diagram, explain the concept of a backward bending supply curve of labour.

3c

Demand, supply and determination of equilibrium

A firm operating under perfect competition observed that:

l. At a unit price of Sh.20 of product "R", 600 units were sold.

2. At an increased price of Sh.70, the sales of product "R" decreased by 500 units.

3. The relationship between the price of product "R" and the quantity sold of product "R" is linear.

4. The total cost (TC) of product "R" is given by the function:

TC = O.9q²+ 30q + 1,000

Where q is the quantity of product "R" produced and sold.

Required:

(i) The revenue function of product "R".

(ii) The profit earned at equilibrium.

(iii)The equilibrium price.

4a

National income

The per capita income of a hypothetical country increased by 20% from the year 2015 to year 2018.Despite this increase in per capita income, the residents of the country felt that their living standards were deteriorating.

Required:

Discuss five reasons that might have led to this feeling by the residents.

4b

National income

Describe three methods that could be used to measure the national income of a country.

4c

National income

The following are the consumption and investment functions of country Y in Sh. "Billion".

C= 200 + 0.8Y

I = 400

Where:

C is Consumption

Y is Income

I is Investment

Required:

Calculate the aggregate spending at equilibrium level.

5a

Money and banking

Examine four benefits of a contractionary monetary policy to an economy.

5b

National income

Explain six factors that determine the level of induced investments in an economy.

5c

Money and banking

The value of money varies inversely with the level of prices.
With reference to the above statement, justify six positive economic effects of a prolonged fall in the value of money in an economy.

5d

Inflation and unemployment

With the aid of a well labelled diagram, explain the trade-off between inflation and unemployment level,

6a

Economic growth, economic development and economic planning

Identify four reasons against international trade restrictions.

6b

Economic growth, economic development and economic planning

Summarise four functions of World Trade Organisation (WTO).

6c

Economic growth, economic development and economic planning

The citizens of your country have raised concern over the increased rate of Foreign Direct Investment in your country.

Required:

Assess four cases in favour of and four cases against Foreign Direct Investment in an economy

7a

National income

Enumerate five causes of inequalities in the distribution of income and wealth in an economy.

7b

Economic growth, economic development and economic planning

Explain five benefits of development planning in an economy.

7c

Money and banking

Distinguish between "depreciation of a currency" and "demonetisation of the currency".

7d

Money and banking

Highlight six possible effects of demonetisation of the currency.

November 2019

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