G.C.E O/L ECONOMICS 2006 PAPER 2
1 (a) What is the supply of labour in an economy?
(b) State and explain four factors that determine the supply of labour in an economy.
2 (a) (i) Define the term Monopoly power.
(ii) Explain any three sources of Monopoly power
(b) State and explain any THREE advantages and THREE disadvantages of Monopoly.
3 (a) How do commercial Banks create credit?
(b) Examine any FOUR factors which limit their ability to create credit.
4 (a) Explain any four reasons why it essential for a country to measure her National Income
(b) Explain any problems often encountered in the calculations of National Income.
5 (a) What is a tax? Explain giving examples.
(b) Mention and explain four reasons why the Cameroon government should impose taxes.
