cameroon gce June 2015 Economics Paper 2

cameroon  gce June 2015 Economics Paper 2

To download cameroon gce Economics O level click on the link below 

1.

(a) With the aid of diagrams, distinguish between a Change in Quantity Supplied and a Change in Supply

(b) Study the table below and answer the question that follows;

(8 marks)

Calculate Price Elasticity of Supply when price falls from 60FCF A to 40FCF A

(3 marks)

(c) Explain three (3) reasons why a normal demand curve slopes downwards from left to right.

(9 marks)

2.

(a) Distinguish between Labour and Capital as Factors of Production. (6  marks)

(b) Explain three functions of an Entrepreneur as a Factor of Production.  (6  marks)

(c) State and explain four (4) limitations of Division of Labour. (8 marks)

2.

(a) Define the following terms;

(i)         Balance of Payments      (2 marks) 

(ii)        Devaluation                       (2 marks) 

(iii)       Exchange Rate             (2 marks) 

(b) Study the table below which relates to Cameroon’s Balance of Payments.

Calculate;

(i)         Visible Balance                   (2 marks) 

(ii)        Invisible Balance                 (2 marks) 

(iii)       Capital Account Balance      (2 marks) 

( c) State and explain four ( 4) First-Aid measures of correcting a Balance of Payments deficit.  (8 marks)

4.

 (a) Explain two similrities between a Central Bank and a Commercial Bank.   (4 marks) 

(b) State and explain four ( 4) functions of a Commercial Bank   (8 marks)

(c) State and explain four effects of lnflation in an economy.    (8 marks)

5

 (a) Differentiate between Sole Proprietorship and Partnership as forms of business organization (12 marks)

(b) Briefly explain the following; (2 marks) 

(i) Deed of Partnership (2 marks) 

(ii) Articles of Association  (2 marks) 

(iii)Memorandum of Association   (2 marks) 

(iv) Certificate of Incorporation    (2 marks)