Get premium membership and access revision papers, questions with answers as well as video lessons.

Diploma In Purchasing And Supplies Management Question Paper

Diploma In Purchasing And Supplies Management

Course:

Institution: Kenya Institute Of Management (Kim) question papers

Exam Year:2012

ECONOMICS
1. (a) Explain the following terms as used in economics:
I. Scarcity (3 marks)
II. Choice (3 marks)
III. Opportunity cost (3 marks)
IV. Microeconomics (3 marks)
b) Explain why developing countries have a negative Balance of payment. (5marks )

2. a) i)Define the term “price control” (2 marks)
ii)Explain the circumstances under which price control is considered (6 marks)
b)Discuss the importance of National income statistics (12 marks)
3. a)Using a well labeled diagram,distinguish between minimum and maximum price as used in price control theory. (10 marks)
b)Explain the causes of unemployment in Kenya (10 marks)
4. a)With the help of a diagram,explain the law of diminishing returns (12 marks)
b)Explain the limitations of Barter trade (8 marks)
5. a)i)Define the term money as used in Economics (2 marks)
ii) Discuss the function of money (8 marks)
b)Explain factors that determine elasticity of demend (10 marks)
6. a)Discuss the monetary measures used by central bank to curb inflation. (10 marks)
b)Using an illustration,discuss the concept of comparative advantage (10 marks)
7. a)i)The demand of a commodity was 20 unit at price ksh 80 per unit.When the price per unit was increased to ksh 100,quantity demanded rose to 30 units.calculate the elasticity of demand (6 marks)
ii)Explain when the obvious situation (i) can rise (4 marks)
b)Discuss the methods adopted by Kenyan government to protect infant industries (10 marks)
8. a)Explain the approaches used in measuring National income (6 marks)
b)Explain the Keynesian motive of holding money (6 marks)
c)Discuss the features of monopolistic competition (8 marks)

Diploma In Purchasing And Supplies Management Question Paper

More Question Papers

Popular Exams