Hard copy Ksh 600
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Hard copy Ksh 600
To order, Call/ Text/ WhatsApp 0728 776 317
TOPIC 1
INTRODUCTION TO ECONOMICS
QUESTION 1
August 2024 Question Five A and C
(a) Explain THREE demerits of the deductive method of economic analysis. (6 marks)
(c) Describe how the concept of opportunity cost is applied in decision making with respect to:
- Consumers (2 marks)
- Firms (2 marks)
- Government (2 marks)
- International trade. (2 marks)
QUESTION 2
December 2023 Question Six A
Describe THREE steps involved in the scientific method of studying economics. (6 marks)
QUESTION 3
August 2023 Question One A
State FIVE advantages of a planned economy. (5 marks)
QUESTION 4
August 2023 Question Six B
Analyse FOUR challenges that may be encountered by an economy when transitioning from a planned economy to a free enterprise system. (4 marks)
QUESTION 5
April 2023 Question One B
Enumerate FIVE benefits of studying economics. (5 marks)
QUESTION 6
December 2022 Question One C
List FOUR characteristics of economic resources. (4 marks)
QUESTION 7
December 2022 Question Three A
Enumerate FIVE factors that could limit consumer sovereignty. (5 marks)
QUESTION 8
December 2022 Question Six A
Outline FOUR disadvantages of a controlled market system. (4 marks)
QUESTION 9
August 2022 Question One A
Explain five demerits of trade liberalisation in an economy. (5 marks)
QUESTION 10
April 2022 Question One A
Discuss five challenges encountered by planned economic system in their transition to market oriented economies. (10 marks)
QUESTION 11
December 2021 Question One D
Outline seven advantages of a free market economic system. (7 marks)
QUESTION 12
August 2021 Question Six C
(i) Define the term “free enterprise economic system.” (1 mark)
(ii) Highlight four economic advantages of free enterprise economic system. (4 marks)
QUESTION 13
May 2021 Question One A
Evaluate four ways in which the government could influence allocation of resources in a country. (8 marks)
QUESTION 14
May 2021 Question One C
(i) Define the term “Consumer Sovereignty” as used in economics. (2 marks)
(ii) Summarise six limitations of consumer sovereignty in an economy. (6 marks)
QUESTION 15
November 2020 Question One B
Using suitable examples, differentiate between the following terms as used in economics:
- “Basic human wants” and “secondary human wants”. (4 marks)
- “Public good” and “merit good”. (4 marks)
- “Stable equilibrium” and unstable equilibrium”. (4 marks)
QUESTION 16
November 2020 Question Two B
Citing four examples, explain the significance of mobility of factors of production. (8 marks)
QUESTION 17
November 2019 Question One A
Examine four limitations of a planned economic system. (4 marks)
QUESTION 18
November 2019 Question One B
With the aid of a diagram, explain the concept of production possibility curve. (5 marks)
QUESTION 19
November 2019 Question Two A
Evaluate three fundamental economic issues that a society has to address to minimise the problem of scarcity of resources. (6 marks)
QUESTION 20
May 2019 Question Two A
(i) Enumerate five characteristics of a free market economic system. (5 marks)
(ii) State five advantages of a free market economic system. (5 marks)
QUESTION 21
November 2018 Question One A
Differentiate between “economic resources” and “non economic resources”. (1 mark)
QUESTION 22
November 2018 Question One B
(i) Explain the term “consumer sovereignty” as used in economics. (1 mark)
(ii) Outline eight factors that hinder consumers’ sovereignty. (8 marks)
QUESTION 23
November 2018 Question Four A
Highlight five characteristics of a mixed economic system. (5 marks)
