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Hbc 2107:Introduction To Micro Economics Question Paper

Hbc 2107:Introduction To Micro Economics

Course:Introduction To Micro-Economics

Institution: Taita Taveta University question papers

Exam Year:2013

1.(a)Define money and outline its major functions.(6mks)
(b)Explain the various motives of holding money.(6mks)
(c)What are the likely effects of an expansionary monetary policy in an economy?(8mks)

2.(a)What are factors of production?(6mks)
(b)Expain the meaning of mobility of factors of production.To what extend are factors of production mobile?(7mks)
(c)(i)State the aspects of significance of factor mobility(3mks)
(ii)What policy recommendations would you suggest to reduce regional development imbalances if any developing countries?(4mks)

3.(a)Discuss the major causes of supply curve shifts.(7mks)
(b)By use of diagrams,illustrate and explain the resultant changes on the equilibrium price and quantity from a simultaneous fall in price of a substitute and an increase in the cost of raw material for a specific commodity.(6mks)
(c)(i)State ceteris parisbus principle on demand and supply.(3mks)
(ii)Identify different types of demand.(4mks)

4.(a)Discuss practical importance of knowledge of price elasticity of demand.(10mks)
(b)Identify different types of goods.(4mks)
(c)Explain the importance of cross elasticity.(6mks)

Hbc 2107:Introduction To Micro Economics Question Paper

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