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Hrd 2103: General Economics Question Paper

Hrd 2103: General Economics

Course:Bachelor Of Purchasing And Supplies Management

Institution: Jomo Kenyatta University Of Agriculture And Technology question papers

Exam Year:2013

JOMO KENYATTA UNIVERSITY OF AGRICULTURE AND TECHNOLOGY
UNIVERSITY EXAMINATIONS 2013/2014

YEAR ONE SEMESTER TWO EXAMINATION FOR THE DEGREE OF
BACHELOR OF PURCHASING AND SUPPLIES MANAGEMENT

HRD 2103: GENERAL ECONOMICS

DATE: AUGUST 2013 TIME: 2 HOURS

QUESTION ONE
(a) Highlight five ways of determining price in the market. [5 marks]
(b) State five characteristics of good money. [5 marks]
(c) Outline five dis economies of scale that a large firm may experience. [5 marks]
(d) Outline five factors that determine elasticity of supply. [5 marks]
(e) Outline the principles of public expenditure. [5 marks]
(f) State five causes of inflation in an economy. [5 marks]

QUESTION TWO
(a) A country Y is in a process of measuring its national income. Explain the difficulties that they may encounter carrying out this exercise. [10 marks]
(b) Explain the roles played by commercial banks in the economic development of a country. [10 marks]

QUESTION THREE
(a) The demand for a certain product in the market has been on the rise for the last one year. Explain the factors that may lead to this scenario. [10 marks]
(b) Explain the factors that may affect the efficiency of labour as a factor of production. [10 marks]

QUESTION FOUR
(a) One of the main causes of balance of payment deficits is increased importation of goods and services. Explain the measures that the governments may take to reduce this importation. [10 marks]
(b)One of the main sources of revenue for the government is Tax. Explain the principles that must guide when imposing tax. [10 marks]

Hrd 2103: General Economics Question Paper

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