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Economics Question Paper

Economics

Course:Diploma Course In Management Section 1

Institution: Kenya Institute Of Management (Kim) question papers

Exam Year:2012

Diploma course in management

Section I

September 2012 Examination

Economics

Time: 3 Hours

Instructions
1. Write your index number in the space provided in the answer booklet.
2. Answer any five questions
3. All questions carry equal marks
4. No writing should be done on this question paper
5. Candidates who break KIM examination rules and regulations or commit any malpractice will be Disqualified

1. Distinguish between the following concepts as used in economics

i) Normative economics and positive economics (4 marks)

ii) Money market and capital market (4 marks)

b) Explain the main causes of an adverse balance of payments (12 marks)
2. Explain the monetary policy instruments used by central bank of a county to control inflation (20 marks)

3. Define national income (2 marks)
b) Discuss the theoretical problems encountered in national income accounting
(12 marks)

c) Briefly explain the determinants of demand for a normal good (6 marks)

4. With the aid of a well labeled diagrams, explain why elasticity of demand is said to be clastic inelastic and unitary (20 marks)

5. Define economic integration (2 marks)

b) Discuss the disadvantages of economic integration to a developing economy
(18 marks)

5. Briefly explain the rewards of factor inputs (20 marks)

6. Explain the factors that have led to the increasing Kenya’s public expenditure in recent years (20 marks)

7. Define price discrimination and explain the conditions under which a firm can practice it (20 marks)

Economics Question Paper

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