NATIONAL OPEN UNIVERSITY OF NIGERIA
Plot 91, Cadastral Zone, Nnamdi Azikiwe Express Way, Jabi-Abuja
Faculty of Management Sciences, Department of Financial Studies
JULY 2017 EXAMINATIONS
COURSE CODE: ACC 320 CREDIT UNIT: 2
COURSE TITLE: ECONOMICS AND BUSINESS ENVIRONMENT
TIME ALLOWED: 2 hrs
Instructions: 1. Attempt question Number one (1) and any other two (2).
2. Question number 1 is compulsory and carries 30 marks, while the other questions carry 20 marks each
Present all points in a coherent and orderly manner
QUESTION 1
1a) What are the significant current economic environments that affects business? 18 Marks
1b) List 6 government goals for setting any macroeconomic policy? 6 Marks
1c) Discuss Inflation in details 6 Marks
QUESTION 2
2a) Explain Normative and Positive Economics 10 Marks
2b) Mention four important influences on policy decisions. 4 Marks
2c) It is known that there is a well-established set of goal that is widely accepted as legitimate objects of government attention. Discuss these goals. 6 Marks
QUESTION 3
3a) What are the three Dominant Macroeconomic Principles? 6 Marks
3b) Economists often differ in their views of how the world works; Give two reasons for the difference 8 Marks
3c) What is GDP? 2 Marks
3d)What are the three different ways to think about and measure GDP? 3 Marks
QUESTION 4
4a) What is the difference between Monetary and Fiscal Policy Decisions? 4 Marks
4b) What are the internal environmental factors that determine the success of a business organisation? 10 Marks
4c) Discuss 3 direct action environments 6 Marks
QUESTION 5
5a) In a tabular format, compare Business/IT strategic and application planning approaches 8 Marks
5b) With a diagram, explain the Information Technology Architecture 12 Marks
You can get the soft copy for this course or the exam summary answers for this course from 08039407882
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