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Dcm 103: Economics Question Paper

Dcm 103: Economics

Course:Certificate In Management

Institution: Kenya Institute Of Management (Kim) question papers

Exam Year:2012

DCM 103: ECONOMICS
QUESTION ONE
Discuss the following terms as used in economics:
a. Cross elasticity of demand (4mks)
b. Price mechanism. (4mks)
c. Specialization (4mks)
d. Mixed economic system. (4mks)
e. Absolute advantage (4mks)

QUESTION TWO
a. Distinguish between deductive and inductive method. (8mks)
b. Apply your knowledge of economics to demonstrate how a country can use the fiscal policy measures to control inflation. (12mks)

QUESTION THREE
a. Examine the reasons which may influence a country to join an economic system like COMESA. (10mks)
b. Discuss the role IMF plays in economic development of member states. (10mks)

QUESTION FOUR
a. Define underemployment. (2mks)
b. Draw a distinction between perfect competitive market and oligopoly. (8mks)
c. Highlight the limitations of credit creation process. (10mks)

QUESTION FIVE
a. Distinguish between terms of used and balance of payment. (4mks)
b. State the benefits a country can get by adopting protectionism policy. (6mks)
c. Examine the advantages of non banking financial institutions. (10mks)

QUESTION SIX
a. Outline the characteristics of good money. (6mks)
b. Discuss the importance of elasticity of supply in economic analysis. (8mks)
c. Highlight features of monopolistic market. (6mks)

QUESTION SIX
a. Assess the limitations of consumer sovereignty. (10mks)
b. Explain the factors that influence the level of savings in an economy. (10mks)

Dcm 103: Economics Question Paper

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