(a) What is production?

(b) Explain the following factors of production: (i) land  (ii) labour (iii) capital

(c) State three functions of an entrepreneur. 

(a) State four steps that can be taken by a customer opening a current account.

(b) Explain six functions of commercial banks.
 

(a) State five features common to both public and private limited companies.

(b) State five provisions of a memorandum of association.
 

(a) Explain five measures a country could take to solve its balance of payment problems.

(b) State five disadvantages of international trade.
 

(a) What is a contract?

(b) List five elements of a contract

(c) Explain six conditions that could lead to the termination of a contract.