Get premium membership and access revision papers, questions with answers as well as video lessons.

Secretarial Diploma 1 - Economics Examination Question Paper

Secretarial Diploma 1 - Economics Examination

Course:Diploma In Secretarial Studies

Institution: Machakos University question papers

Exam Year:2012

Business Education Department
End of year examinations
Secretarial Diploma 1-Economics
Instructions:
(a) Answer any four questions
(b) Use diagrams where necessary
(c) All questions carry equal marks
1. (a) What factors influence demand for a commodity? ( 5 marks)
(b) Difference between change in quantity demanded and change in demand.(10 marks)
(c ) What is elasticity of demand?( 5 marks)

2. (a) What is a shift of the supply curve? ( 5 marks)
(b) What factors may contribute in a rise of supply? ( 5 marks)
(c ) Explain the effect of a rise in supply on the equilibrium price and output of a commodity?(10 marks)

3. (a) What is production? ( 2 marks)
(b) Name the different levels of production.( 3 marks)
(c ) List the advantages of division of labor. ( 5 marks)
(d ) State the features of land as a factor of production.(5 marks)
(c ) Give five economies of scale( 5 marks)

4. (a) Name the two kinds of partnership. ( 2 marks)
(b) Why would you prefer being in partnership other than going into business all alone?( 10 marks)
(c ) Why would a government involve itself in business undertakings within its frontiers?( 5 marks)

5. Write brief notes on each of the following concepts:
(a) Opportunity costs ( 5 marks)
(b) Scarcity (5 marks)
(c) The margin ( 5 marks)
(d) Ostentation goods( 5 marks)

Secretarial Diploma 1 - Economics Examination Question Paper

More Question Papers

Popular Exams

Mid Term Exams

End Term 1 Exams

End Term 3 Exams

Opener Exams

Full Set Exams