camroon gce O level June 2021 economics paper 2

Posted on July 18, 2021 by T- frank

a) Explain Four (4) functions of the Entrepreneur as a factor of production.
(b) Explain any Four (4) of the following concepts:

(12 marks)

(i) Circulating Capital
(ii) Social Capital
(iii) Fixed capital
(iv) Variable cost
(v) Marginal cost

(vi) Average fixed cost.
(a) Explain Four (4) ways by which trade between countries is restricted:

(4 x 2 = 8 marks)
(8 marks)

(b) ( i) Explain any Three (3) reasons why a country will impose restrictions on international trade,

(ii) Advance any Three (3) reasons why trade restrictions should be eliminated

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