(a) What is production?

(b) Illustrate with a labeled diagram the main divisions and subdivisions of production. 
 

(a) Mention four types of co-operative societies.

(b) State two distinguishing features and two functions of each type mentioned in 2(a) above.
 

(a) Define a bill of exchange.

(b) State six essential features of a bill of exchange.

(c) List the parties to a bill of exchange. 
 

(a) What is an agency?

(b) Explain the features of the following agents:
(i) Factor
(ii) Broker
(iii) Del-credere agent
(iv) Auctioneer. 
 

(a) Distinguish between marketing and a market

(b) In which four ways is marketing important to a developing country?