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Ird 301: Economics For Engineers Question Paper

Ird 301: Economics For Engineers

Course:Bachelor Of Engineering In Electrical And Telecommunication Engineering

Institution: Moi University question papers

Exam Year:2012

MOI UNIVERSITY
DEPARTMENT OF DEVELOPMENT STUDIES
3RD YEAR 2ND SEMESTER EXAMINATIONS
2011/2012 ACADEMIC YEAR

IRD 301: ECONOMICS FOR ENGINEERS

Instructions to Candidates:
i. Section A is COMPULSORY
ii. Answer any THREE questions in Section B

SECTION A (COMPULSORY)
1.
a. High population growth rate in a country is a blessing in disguise. Discuss. (15mks)
b. Explain the importance of the concept of national income to the development process. (10mks)

SECTION B
2.
a. Giving relevant examples, discuss the factors for elasticity of demand. (10mks)
b. Explain the assumption and exemptions of the law of demand. (5mks)

3.
Price controls are very significant in any markets especially in developing countries. Discuss this convention in light of the Kenyan market. (15mks)

4.
a. Write short notes on the following economic terms.
i. Abnormal supply curve
ii. Composite supply
iii. Giffen goods
iv. Opportunity cost
v. Inferior goods (5mks)

b. Discuss the concept of elasticity of supply highlighting how it is measured. (10mks)

5. Giving examples explain the causes of unemployment in developing countries and the measures to solve the challenges. (15mks)

6. Giving examples from third world countries, discuss the measures that governments come with to curb inflation. (15mks)

Ird 301: Economics For Engineers Question Paper

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