NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JULY 2017 EXAMINATION

COURSE CODE:   ACC 320                                                         

CREDIT UNIT: 2

COURSE TITLE:    ECONOMICS AND BUSINESS ENVIROMENT

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