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Hrd2103:General Economics Question Paper

Hrd2103:General Economics

Course:Bachelor Of Horticulture

Institution: Meru University Of Science And Technology question papers

Exam Year:2011

QUESTION ONE – (30 MARKS)
(a) Explain the differences between the following: (12 Marks) (i) Macroeconomics and microeconomics (ii) Explicit and implicit costs (iii)Market conduct and market structure (iv) Cross elasticity of demand and income elasticity of demand (b) Using relevant illustration differentiate between change in quantity demanded and change in demand. (8 Marks) (c) Differentiate between balance of payment and terms of trade. (4 Marks) (d) State the characteristics of Oligopolistic competition market. (6 Marks)
QUESTION TWO – (15 MARKS)
Explain the monopoly market with respect to the following
(i) Monopoly power (ii) Characteristics (iii)Price, output and profit maximization. (15 Marks)
2
QUESTION THREE – (15 MARKS)
(a) State the functions of the Central Bank to the government. (6 Marks) (b) Explain the uses of National income statistics. (9 Marks)
QUESTION FOUR – (15 MARKS)
(a) Discuss the objectives of exchange control. (10 Marks) (b) Explain the causes of inflation. (5 Marks)

Hrd2103:General Economics Question Paper

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