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Cbm 02: Introduction To Economics Question Paper

Cbm 02: Introduction To Economics

Course:Certificate In Business Management

Institution: Chuka University question papers

Exam Year:2013

CHUKA
UNIVERSITY

UNIVERSITY EXAMINATIONS – IGEMBE CAMPUS

EXAMINATION FOR THE AWARD OF
CERTIFICATE IN BUSINESS MANAGEMENT

CBM 02: INTRODUCTION TO ECONOMICS

STREAM: CBM TIME: 2 HOURS
DAY/DATE: WEDNESDAY 7/8/2013 8.30 AM – 10.30 AM

INSTRUCTIONS:

ANSWER QUESTION ONE AND ANY OTHER TWO QUESTIONS

1. (a) Define demand and state the law of demand. [5 marks]

(b) What is an economic good? [3 marks]

(c) Giving examples, explain the term opportunity cost. [5 marks]

(d) State any 3 factors that cause rise in demand. [6 marks]

(e) Explain the following terms

(i) Gross domestic product. [2 marks]
(ii) Money [2 marks]
(iii) Free trade [2 marks]

(f) Explain objectives of international monetary fund (IMF) [5 marks]

2. (a) Explain the expression – Abnormal demand curve [3 marks]

(b) By use of examples, differentiate between demand curve and demand schedules. [12 marks]

3. Explain 3 assumptions of law of demand. [15 marks]

4. (a) Differentiate between micro-economics and macro-economics. [3 marks]

(b) Explain objectives of a monetary policy [12 marks]

5. Discuss functions of a commercial bank. [15 marks]
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Cbm 02: Introduction To Economics Question Paper

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