Cbm 02: Introduction To Economics Question Paper
Cbm 02: Introduction To Economics
Course:Certificate In Business Management
Institution: Chuka University question papers
Exam Year:2013
CHUKA
UNIVERSITY
UNIVERSITY EXAMINATIONS – IGEMBE CAMPUS
EXAMINATION FOR THE AWARD OF
CERTIFICATE IN BUSINESS MANAGEMENT
CBM 02: INTRODUCTION TO ECONOMICS
STREAM: CBM TIME: 2 HOURS
DAY/DATE: WEDNESDAY 7/8/2013 8.30 AM – 10.30 AM
INSTRUCTIONS:
ANSWER QUESTION ONE AND ANY OTHER TWO QUESTIONS
1. (a) Define demand and state the law of demand. [5 marks]
(b) What is an economic good? [3 marks]
(c) Giving examples, explain the term opportunity cost. [5 marks]
(d) State any 3 factors that cause rise in demand. [6 marks]
(e) Explain the following terms
(i) Gross domestic product. [2 marks]
(ii) Money [2 marks]
(iii) Free trade [2 marks]
(f) Explain objectives of international monetary fund (IMF) [5 marks]
2. (a) Explain the expression – Abnormal demand curve [3 marks]
(b) By use of examples, differentiate between demand curve and demand schedules. [12 marks]
3. Explain 3 assumptions of law of demand. [15 marks]
4. (a) Differentiate between micro-economics and macro-economics. [3 marks]
(b) Explain objectives of a monetary policy [12 marks]
5. Discuss functions of a commercial bank. [15 marks]
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