Economics July 2019 Past Question Paper

KNEC Past Examination Question Papers

This Past Paper examination was examined by the Kenya National Examination Council (KNEC) and it applies to the following courses:

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1. (a) Highlight five reasons that may make a controlled economic system undesirable by many countries. (10 marks)

(b) Explain the reasons that make perfect competition difficult to achieve in an economy. (10 marks)

2. (a) Outline five functions of an entrepreneur as a factor of production. (10 marks)

(b) National income statistics have been used to compare standards of living in different countries. Explain five limitations of using such statistics. (10 marks)

3. (a) Explain six measures that the government may take to control unemployment. (12 marks)

(b) Explain Cm° differences between commercial banks and non-bank financial institutions. (8 marks)

4. (a) increasing the size of an individual firm beyond a certain scale can lead to internal diseconomies of scale. Explain four sources of such dis-economies. (8 marks)

(b) Explain six factors that may influence the wages paid to employees in an organisation (12 marks)

5. (a) The Kenyan government has in the Mt past decontrolled prices of some commodities. Explain the positive effects of such price decontrol. (8 marks)

(b) Explain six monetary me that may be taken to reduce inflation in a country (12 marks)

6. (a) Explain five reasons that may account for an outward shift in the demand curve. (10 marks)

(b) Certain principles should guide public expenditure. Explain five such principles. (10 marks)

7. (a) Explain four grounds on which progressive tax may be justified. (8 marks)

(b) Explain six factors that determine the elasticity of supply. (12 marks)

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