G.C.E O/L ECONOMICS 2008 PAPER 2
1 A) Distinguish between specific and non-specific factors of production. Give and example in each case
b) State and explain three factors hindering the geographical mobility of labour and three factors hindering occupational mobility of labour in an economy.
2 (a) state and explain any four economic reasons for protecting trade.
b) state and explain any four methods by which a country can restrict trade.
c) State two advantage and two disadvantages of international trade.
3 (a) State and explain five principles of a good tax
(b) state and explain five reasons why the government imposes direct tax
4 (a) Explain any four factors that may influence the demand for a commodity
(b) With the aid of diagrams differentiate between a change in quantity demanded and a change in demand of any good
5 (a) Explain and four different between a market economy and a state planned economic system.
(b) State and explain any four disadvantages of the price mechanism.
