KNEC Craft Certificate in Human Resource Management Module II Economics Past paper July 2023 Answers

Answers for KNEC Craft Certificate in Human Resource Management Module II Economics Past paper July 2023

Course Name:  Human Resource Management
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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.

Distinguish between micro-economics and macro-economics. ()

2.

List four types of price elasticity of demand. ()

3.

State four functions of money in an economy. ()

4.

List two aspects of raw materials that may be considered when choosing a site to set-up a manufacturing firm. ()

5.

State three challenges that are associated with the income approach to the measurement of national income. ()

6.

Identify four sources of public finance in Kenya. ()

7.

State three methods that may be used to restrict imports in a country. ()

8.

State three factors that may hinder effective implementation of economic development plans in a country. ()

9.

State three factors that may determine the fertility rate in a country. ()

10.

Outline four characteristics of human wants. ()

11.

The demand for mandazi at Kisisi village has been rising over the past few weeks. Explain six reasons that may account for this trend. ()

12.

Explain four factors that may determine the supply of labour as a factor of production in a country. ()

13.

Outline six ways in which commercial banks contribute to the economic growth of a country. ()

14.

Outline six ways in which a firm may attain monopoly status in a market. ()

15.

The amount of revenue raised through taxation in a country depends on certain factors. Explain four such factors. ()

16.

Outline six government policies that may encourage investors to locate their firms in a particular region. ()

17.

Highlight four reasons that may account for differences in terms of trade between countries. ()

18.

Outline six indicators of under-development in a country. ()

19.

Outline four challenges that are associated with low population in a country. ()