cameroon gce A level June 2024 Economics 1
cameroon gce A level June 2024 Economics 1
Economics is the study of:
A ways to reduce wants to eliminate the
problem of scarcity.
B the distribution of the surplus goods
to those in need.
C the choiees we make because of
scarcity.
f> the affluence in a morally bankrupt
world.
Land Labour Capital Output
40 80 120 10,000
210 17
70 140 ,000
, 5. This firm is experiencing
A economies of Scale.
B constant returns.
C diseconomies of scale.
D increasing returns to the variable
factor.
Question 2 is based on figure 1 below
Figure I
Units of .
Clotll j, c; 6. Occupational mobility of labour can be limited
by
A social ties.
‘ B more education and training.
C awareness of existing jobs.
D differences in natural ability.
•3> L nits o:
45
Food
The opportunity cost of one unit of food is
A 30 units of cloth.
B 1/3 units of cloth.
C 60 units of cloth.
D 15 units of cloth.
Which of the following is an internal
source of finance for a firm?
A Trade credit.
•B Retained profit.
C Sale of shares.
D Hire purchase.
7.
Which of the following best summarises the
main difference between command and free
market economies?
A No specialisation in market
economies unlike in command
economies.
B Production in a free-market economy
is always more efficient.
C Free market economies promote
private ownership of resources unlike
command economies.
D No self interest in market economies
unlike in command economies.
One benefit of division of labour is
A a fall in the use of machinery,
an increase in the flexibility of
workers.
C an increase in the job satisfaction of
workers.
D a fall in the average cost of
production.
j. 8.
B
9. Which of the following constitutes the most
risky investment in a company?
A Ordinary shares.
B Debentures.
C Cumulative preference shares.
One reason why the free market fails D Participating preference shares.
to achieve an optimal allocation of
scarce resources is because
A individual incomes and wealth are not
identical.
B there is under production of goods with
positive externalities.
C public goods are provided free of charge
to users.
D positive externalities lead to over
production of goods.
4.
!I
10. Which of the following factors is an example
of ‘positive checks’ in the Malthusian theory of
population?
A Abstention.
B Cholera outbreaks.
Family planning.
D Late marriages.
