G.C.E O/L ECONOMICS 2001 PAPER 2
1 (a) Define the following giving three examples of each:
i) Fixed cost and
ii) Variable cost as related to production.
(b) Write short notes on the following factors of production:
i) Entrepreneurship
ii) Capital.
2 (a) Define “Money”.
(b) State and explain any five characteristics of good Money.
3 (a) Distinguish between small holder’s scheme and plantation agriculture.
(b) Explain the role of plantation agriculture in the Cameroon Economy
4 (a) With the aid of diagram distinguish between an extension in demand and an increase in demand.
(b) State and explain three factors each that affect the
i) Elasticity of supply and
ii) Elasticity of demand
5 Why does Cameroon involve in the exports and imports of goods and services?
