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Principles Of Economics (Dhtm 022) Question Paper

Principles Of Economics (Dhtm 022)

Course:Education

Institution: Kenya Methodist University question papers

Exam Year:2012

TIME : 2 HOURS

INSTRUCTIONS
Answer any four questions in the answer booklet provided.
Question One
State the importance of studying economics.
(3 Marks)
Suggest two measures that the government can put in place to control monopoly.
(2 Marks)
Explain five characteristics of Human wants.
(10 Marks)

Question Two
State three functions of money.
(3 Marks)
Briefly explain the factors of production.
(4 Marks)
Draw a demand curve using the following demand schedule of potatoes in the market.
(8 Marks)

PRICE PER BAG NUMBER OF BAGS DEMANDED
10 100
20 90
30 70
45 50
55 30
60 20

Question Three
Briefly explain five functions of a market.
(5 marks)
Explain five factors determining the supply of a commodity.
(10 Marks)

Question Four
Suggest 2 sources of consumer information.
(2 Marks)
Briefly explain three indicators of economic performance in a country.
(3 Marks)
Explain five economic functions of the government.
(10 Marks)

Question Five
Explain five consumer protection agencies available in Kenya today. (15 Marks)

Question Six
State two advantages of budgeting.
(2 marks)
Briefly explain five factors that influence consumer buying.
(5 Marks)
Discus four main problems facing the consumer today.
(8 Marks)

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