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<=KNEC Craft Certificate in Human Resource Management Module II Economics Past paper July 2012
Outline four conditions that are necessary for the law of diminishing marginal utility to operate.
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Questions List:
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.
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.
