Economics Question Paper

Economics

Course:Diploma In Supplies Management (Supplies Management)

Institution: Machakos University question papers

Exam Year:2007

Machakos Technical Training Instute
EMS Department
Economics C.A.T
05/02/2007
Attempt all questions

1. Write short notes on the following
(a) Abnormal supply curve
(b) Joint supply
(c) Composite supply
(d)Competitive supply. (10 Marks)

2. Discuss the factors determining elasticity of supply. (10 Marks)

3. Explain the assumptions of the law of supply. (10 Marks)

4. Write short notes on the following
(a)Monopoly
(b) oligopoly
(c) Monopsony
(d) Oligopsony
(e)Duopoly (10 Marks)

5. What factors determine the reserve price of a commodity (10 Marks)

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