Ccs009: Question Paper

Ccs009:

Course:Bachelor Of Science In Industrial Chemistry

Institution: University Of Nairobi question papers

Exam Year:2016

UNIVERSITY OF NAIROBI
FIRST YEAR EXAMINATION FOR THE DEGREE OF DEGREE OF BACHELOR OF SCIENCE
CCS009:ELEMENTS OF ECONOMICS
DATE: DECEMBER 13, 2016 TIME: 11.30-1.30
INSTRUCTIONS
1.This examination has FIVE question
2.Answer question ONE and any other TWO questions

QUESTION ONE
a)Explain the following concepts. (15 marks)

i) Scarcity
ii)Opportunity cost
iii)Inputs market
iv)Price limit
v)Isoquant curve

b)Explain the 3 basic economics problems. (9marks)

c)Using a well labelled graph, explain the production possibility frontier (PPF) ( 6 marks)

QUESTION TWO
a)Explain the different types of economic system. (12 marks)
b)Using a well labelled graph explain the different types of cost (8 marks)

QUESTION THREE
a)Explain any 3 types of market structures (12 marks)

b)Using a graph show and explain the producer surplus (8 marks)
QUESTION FOUR
a)Briefly describe causes of unemployment (8 marks)
b)What are the main functions of money (6 marks)
c)Explain the principles of public finance (6 marks)

QUESTION FIVE
a)Briefly explain the following concepts:
i)Trade surplus (3 marks)
ii)Absolute advantage (3 marks)
iii)Heckscher-Ohlin Theorem (4 marks)

b)Highlight the obstacles to Economic Development (10 marks)

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