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Hrd 2256:Economics I Question Paper

Hrd 2256:Economics I 

Course:Bachelor Of Crop Protection

Institution: Meru University Of Science And Technology question papers

Exam Year:2012



QUESTION ONE – 30 MARKS
(a) Explain the following methods of learning economics: (10Marks) (i) Empirical Economics (ii) Economic Theory (iii) Inductive Logic (iv) Deductive Logic (v) Assumptions in Economics
(b) State and explain the procedure of acquiring credit finance. (6Marks) (c) State and explain the Economic indicators of growth and development. (6Marks) (d) State the limitations of Barter Trade and explain how each is solved by monetary system. (8Marks)
QUESTION TWO – 20 MARKS
(a) Explain the primary functions of: (i) Central Bank (10Marks) (ii) Commercial Banks (10Marks)
QUESTION THREE – 20 MARKS
(a) Explain the process of credit creation and state the credit multiplier. (8Marks) (b) Explain the characteristics of: (i) Monopoly (6Marks) (ii) Oligopoly (6Marks)
2
QUESTION FOUR – 20 MARKS
Explain perfect competition market under the following:-
(i) Characteristics (6Marks) (ii) Price and output (6Marks) (iii) Profit maximization. (6Marks)
QUESTION FIVE – 20 MARKS
Explain the types of market economies and state a disadvantage and advantage of each. (20Marks)




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