Economics Past Questions and Answers

(a) Explain any four reasons why small-scale farmers dominate agricultural production in your country<br/>(b) Suggest any two measures that can be taken to encourage large scale farming in your country. <br/>

(a) Distinguish between:<br/>(i) a mortgage bank and a merchant bank.<br/>(ii) a commercial bank and a development bank.<br/>(b) Explain any four functions of commercial banks. <br/>

(a) What is a tax?<br/>(b) Describe any four principles of a good tax system.<br/>

Explain each of the following terms:<br/>(a) Export promotion<br/>(b) Depreciation<br/>(c) Terms of trade<br/>(d) Balance of trade. <br/>

Economic activities are undertaken to solve the problem of