Eet 100 Micro-Economics Question Paper
Eet 100 Micro-Economics
Course:Bachelor Of Commerce
Institution: Machakos University question papers
Exam Year:2013
MACHAKOS UNIVERSITY COLLEGE
(A CONSTITUENT COLLEGE OF KENYATTA UNIVERSITY)
SCHOOL OF BUSINESS
MICRO-ECONOMICS
EET 100
CAT
Instructions:
Time 1 hr
Answer all the questions.
1a)Explain the meaning of economics. (2marks)
b)Write short notes on the following terms as used in economics
I)Supply and Demand
II)Choice
III)Scarcity
IV)Opportunity cost (10 marks)
2a)Discuss the different types of elasticity of demand. (10 marks)
b)Explain the concept equilibrium price (5 marks)
3)Discuss the features of a perfect market (10 marks)
4a)By use of diagrams explains the difference between extensions/contraction and rise/fall of demand.(15marks)
b)Discuss the factors that cause a fall or rise in demand. (10marks)
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