KNEC Craft Certificate in Human Resource Management Module II Economics Past paper November 2018 Answers

Answers for KNEC Craft Certificate in Human Resource Management Module II Economics Past paper November 2018

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 three reasons that make it difficult to satisfy all human wants. ()

2.

Outline four factors that may lead to an increase in the supply of a commodity in the market. ()

3.

List four factors of production and their respective rewards. ()

4.

State two types of costs that may be incurred during production. ()

5.

State four functions of money in an economy. ()

6.

Outline three causes of unequal distribution of income among individuals in a country. ()

7.

State four sources of government revenue. ()

8.

List two ways in which products may be differentiated in a monopolistic competition market structure. ()

9.

Outline three measures that the government may take to reduce population growth rate in a country. ()

10.

Identify three indicators of underemployment in an economy. ()

11.

Explain six factors that a manufacturer may consider when selecting a suitable location for a factory. ()

12.

Outline four features of land as a factor of production. ()

13.

Explain four disadvantages of monopoly businesses in a country. ()

14.

Outline six uses of national income statistics in a country. ()

15.

The amount of money held by individuals for precautionary motive is determined by certain factors. Explain four such factors. ()

16.

Explain six reasons that make it necessary for a government to carry out development planning. ()

17.

Highlight four principles that should guide public expenditure in a country. ()

18.

Country Z has been experiencing a high rate of unemployment for the last few years. Explain six measures that the government may take to solve this problem. ()

19.

Explain four factors that may lead to an inward shift in the demand curve. ()

20.

Explain six barriers to international trade. ()