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Are 113: Introduction To Economics Question Paper

Are 113: Introduction To Economics

Course:Bachelor Of Science In Agricultural Economics And Resource Management

Institution: University Of Kabianga question papers

Exam Year:2018

UNIVERSITY OF KABIANGA.

SCHOOL OF AGRICULTURE AND BIOTECHNOLOGY.

UNIVERSITY EXAMINATIONS.

2017/2018 ACADEMIC YEAR.

FIRST YEAR FIRST SEMESTER EXAMINATION.

FOR THE DEGREE OF BACHELOR OF SCIENCE IN AGRICULTURAL ECONOMICS AND RESOURCE MANAGEMENT.

COURSE CODE: ARE 113

COURSE TITLE: INTRODUCTION TO ECONOMICS

INSTRUCTIONS: Answer question ONE and any other THREE questions.

QUESTION ONE (COMPULSORY)

a). Distinguish between microeconomics and macroeconomics. (9 Marks)

b). Describe the factors that affect the supply of maize in Kenya. (16 Marks)

QUESTION TWO.

Discuss the role of the agricultural industry in the national economy. (25 Marks)

QUESTION THREE.

a). Use the data below to compute income elasticity through the arc elasticity method: (9 Marks)

Quality Income(ksh) Price(ksh)
100. 5000. 16
120. 6000. 16

b). Discuss the factors that determine price elasticity of demand. (16 Marks)

QUESTION FOUR

Discuss some national monetary and fiscal policies that are used to manage inflation in Kenya. (25 Marks)

QUESTION FIVE.

Discuss the factors that causes and means of combating unemployment in Kenya. (25 Marks)

Are 113: Introduction To Economics Question Paper

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