ATTEMPT ALL QUESTIONS ON PRODUCTION ASSIGNMENT

1. (i)What is meant by the term production? (1 mk)

(ii)Mention three agents of production in an economy (3 mks)

2. Using examples distinguish between primary production and tertiary production (4 mks)
3. (i)Distinguish between quasi rent and economic rent (2 mks)
4. (i)Distinguish between economic rent and commercial rent (2 mks)

(ii)State any two factors that influence the level of economic rent (2 mks)

5. (i)Define the term geographical mobility of labor (1 mk)

(ii)State any three factors that hinder geographical mobility of labor (3 mks)

6. (i)Distinguish between factor mobility and labor mobility (2 mks)

(ii)Explain any two factors that lead to improvement in labor mobility (2 mks)

7. (i)Distinguish between vertical and horizontal occupational mobility of labor (4 mks)
8. (i) Define the term factor mobility(1mk)

(ii) Mention three factors that influence capital mobility in your country (3 mks)

9. (i) Define mobility of capital (1 mk)

(ii)Give three factors that limit mobility of capital  in an economy (3 mk)

10. (i)Distinguish between factor specificity and factor mobility (2 mks)

(ii)How does the degree of factor specificity affect factor mobility in your country? (2 mks)