1. To ensure equity in the provision of education.
2. To enhance efficiency in allocation and utilization of education funds in various levels and types of education system to maximize benefit of education.
3. To enable members of society to understand benefits of investing in education.
4. To stimulate the provision of education. That is, and avoid overproduction and under production or over investment and under investment on one level for example investing heavily in primary education forgetting secondary education.
5. To be able to understand the contribution education in national, social and economic growth of our country.
carol ngui answered the question on April 4, 2018 at 10:53
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a)Explain briefly the application of calculus to economic models, especially in the context of maximizing contribution and minimizing costs.
b)Company A...
(Solved)
a)Explain briefly the application of calculus to economic models, especially in the context of maximizing contribution and minimizing costs.
b)company A sells all its output to company B for Sh. 200 per unit. The cost of the sales per week in company A are given by the function C = 2q2 + 40q + 80 where q is the value of weekly sales. Company B uses the output of company A to manufacture a product whose demand is dependent on the sale price. The revenue per week of company B is given by the function:
R = 1000q – 16q2 and the cost per week of company B excluding cost of the products bought from company A are given by the function.
C = 2q2 + 80q + 400
Company A can restrict the weekly supply of its product to company B, but cannot raise the unit price above Sh. 200. The two companies are considering whether to merge together into a single company.
Required:
i)At what weekly sales would company A maximize its profits? What would be the profit or loss of company B if company A were able to supply a profit maximizing quantity of its product each week?
ii)At what level of weekly sales would company B maximize its profits?
iii)If the two companies merge into one, what would be the profit maximizing output per week and what would be the weekly profit?
Date posted:
April 2, 2018
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Answers (1)
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Describe the limitations of the CVP (Cost, Volume and Profit) Analysis
(Solved)
Describe the limitations of the CVP (Cost, Volume and Profit) Analysis.
Date posted:
April 1, 2018
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Answers (1)
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Your firm is the auditor of Trent Textiles Ltd, and you are planning your
audit work on the stock-take, which will be carried out at...
(Solved)
Your firm is the auditor of Trent Textiles Ltd, and you are planning your
audit work on the stock-take, which will be carried out at the firm‟s year-
end of 31 May 19X3.
Trent Textiles manufactures knitted garments, including pullovers. The
production process comprises:
(a) Knitting the individual components (e.g body and arms);
(b) Sewing the components together to form the finished garment;
(c) Cleaning, finishing, pressing and folding the garments;
(d) Packing the garments, ready for dispatch to the customer.
Trent Textiles does not have a perpetual inventory system, so the value of
the stock in the accounts is found from the stock-take at the year-end. For
management purposes, Trent Textiles carries out a full stock-take every
three months.
Your permanent file of the company confirms that it has a single factory
and no internal audit department.
You have been asked by the manager in charge of the audit to suggest the
work you will perform at the stages listed below.
Required:
(a) State the work you will carry out prior to the commencement of the
stock-take.
(b) State the procedures you will check during the stock-take to ensure
the company‟s staff have accurately recorded the stock.
(c) State the work you will carry out and the matters you will record at the
stock-take
Date posted:
March 30, 2018
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Answers (1)
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(Solved)
List six effects of price decontrol?
Date posted:
March 23, 2018
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Answers (1)
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Compare and contrast ordinal and cardinal utility theory
(Solved)
Compare and contrast ordinal and cardinal utility theory.
Date posted:
March 21, 2018
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Answers (1)
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(a) Distinguish between money, near money and money substitutes.
(b) Identify and explain the functions of...
(Solved)
(a) Distinguish between money, near money and money substitutes.
(b) Identify and explain the functions of money. (6 marks)
(c) Explain the reasons for liquidity preference for money.
(d) Explain any four qualities of money.
Date posted:
March 16, 2018
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Answers (1)
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(Solved)
Give reasons why teachers study economics of education.
Date posted:
March 16, 2018
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Answers (1)
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(Solved)
Give reasons why economists are interested in education.
Date posted:
March 16, 2018
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Answers (1)
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(Solved)
Outline the solutions to problems of education planning.
Date posted:
March 16, 2018
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Answers (1)
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(Solved)
Discuss the major problems facing educational planning in developing countries.
Date posted:
March 16, 2018
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Answers (1)
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(Solved)
Describe the social organization of the Nandi during the pre-colonial period.
Date posted:
March 14, 2018
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Highlight the critical areas of choice in educational planning.
(Solved)
Highlight the critical areas of choice in educational planning.
Date posted:
March 13, 2018
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Answers (1)
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Discuss the functions of educational planning.
(Solved)
Discuss the functions of educational planning.
Date posted:
March 13, 2018
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Answers (1)
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Outline the demerits of the Manpower Requirement Approach in educational planning
(Solved)
Outline the demerits of the Manpower Requirement Approach in educational planning
Date posted:
March 13, 2018
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Answers (1)
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Comment on the merits of the Manpower Requirement Approach in educational planning
(Solved)
Comment on the merits of the manpower requirement approach in educational planning.
Date posted:
March 13, 2018
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Define the term Consumer Rationality and outline the conditions that must be fulfilled for consumer rationality
(Solved)
Define the term Consumer Rationality and outline the conditions that must be fulfilled for consumer rationality
Date posted:
March 9, 2018
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Answers (1)
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What is the type of economic system in Nigeria?
(Solved)
What is the type of economic system in Nigeria?
Date posted:
February 28, 2018
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Answers (1)
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What type of economic system does Kenya have?
(Solved)
What type of economic system does Kenya have?
Date posted:
February 28, 2018
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Answers (1)
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Discuss the methods used to correct trade deficit in Kenya
(Solved)
Discuss the methods used to correct trade deficit in Kenya
Date posted:
February 23, 2018
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Discuss the effects of inflation in Kenya and their possible solutions.
(Solved)
Discuss the effects of inflation in Kenya and their possible solutions.
Date posted:
February 23, 2018
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Answers (1)