KNEC Craft Certificate in Human Resource Management Module II Economics Past paper July 2012 Answers

Answers for Craft Certificate in Human Resource Management Module II Economics Past paper July 2012

Course Name:  Human Resource Management
Also Done By:
CRAFT CERTIFICTE IN:
-SECRETARIAL STUDEIS
-SALES AND MARKETING
-SUPPLY CHAIN MNAGEMENT
-BUSINESS MANAGEMENT
-ROAD TRANSPORT MANAGEMENT
-CLERRICAL OPERATIONS
-CO-OPERATIVE MANAGEMENT
-INVESTMENT MANAGEMENT
Course Level:  Craft Certificate
Sub Level:       Module II
Course Unit:   Economics
Exam body:    KNEC
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1.

State four features of commercial production. ()

2.

Outline three characteristics of oligopoly. ()

3.

State three ways in which a farm may expand its operations. ()

4.

State four benefits of buying goods from other countries. ()

5.

Outline three factors that may limit the use of cheques as means of payment. ()

6.

State three types of indirect taxes. ()

7.

Outline four characteristics of a good development plan. ()

8.

State three forms of abnormal demand curve. ()

9.

Give two features of entrepreneur as a factor of production. ()

10.

State three factors that may make human wants unlimited. ()

11.

Describe four measures that a country may take to increase export trade. ()

12.

Highlight six types of costs that a firm may incur in the process of production. ()

13.

Explain four limitations of commodity money. ()

14.

Explain four principles of taxation system. ()

15.

Outline six economic characteristics of the less developed countries. ()

16.

Highlight six benefits that a firm would get if it is located where the other firm already exist. ()

17.

Outline four conditions that are necessary for the law of diminishing marginal utility to operate. ()

18.

Explain four functions of a budget in a country. ()

19.

Outline six characteristics of monopolistic competitions market structure. ()