cameroon gce ordinary level June 2022 economics 2

cameroon gce ordinary level June 2022 economics 2

cameroon gce ordinary level June 2022 economics 2

Outline the drawbacks of a barter system of exchange and explain how they have been removed by
the following functions of money:
Medium of exchange
Measure of value
(iii) Store of value
(vi) Standard of deferred payment
(i) Differentiate between “demand for money” and “ supply of money”
(ii) Why do people in an economy prefer to hold money in liquid form?

“Of recent the government of Cameroon has increased custom duties on imports
Slate and explain Four (04) main economic reasons for such a policy.
Apart from custom duties, stale and explain Four (04) other measures available for government to
use, in order to reduce imports.

List any Four (04) first aid measures, the government can used to correct a balance of Payment
(4 marks)
Define the following as used in economics:
(i) Debentures
(ii) Plough-back profit
(iii) Deregulation
(iv) Parastatals
(v) Multinational
(vi) Shares

(b) Bring out any Four (04) reasons why about 60% of entrepreneurs started as Sole Proprietors?
(8 marks)
4. (a) (i) Distinguish between Direct and Indirect Production (4 marks)
(ii) With the help of a table classify the following statements into direct and indirect production.
The production of cocoyams for personal consumption.
A carpenter produces a cupboard for sale
Weaving a basket to help you carry house waste.
A teacher preparing students to take Economics as a subject in the upcoming GCE
Examination at a fee.
A musician playing his guitar at his leisure time.
A woman frying puff- puff for sale. (6 marks)
With the help of examples, what do you understand by the following:
(i) Primary Production
(ii) Secondary Production
(iii) Tertiary Production
(iv) Quaternary Production

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