(a) Distinguish between labour force and efficiency of labour
(b) Describe five factors which determine the size of the labour force in a country

(a) What is a demand schedule?
(b)Explain each of the following terms:
    →effective demand
    →composite demand
    →derived demand
(ci) Using appropriate diagrams, explain how a change in the price of a commodity would influence the demand of its:
       substitute
(ii) Using appropriate diagrams, explain how a change in the price of a commodity would influence the demand of its:
       complement

(a) Explain the following types of taxes:
     →specific tax
     →value-added tax
(bi) With the aid of diagrams, describe the effects of an indirect tax on a commodity when demand is:
      perfectly inelastic
(ii) With the aid of diagrams, describe the effects of an indirect tax on a commodity when demand is:
      perfectly elastic

(a) Distinguish between a:
 →mortgage bank and a merchant bank
 →commercial bank and a development bank
(b) Explain any four functions of commercial banks

(a) What is economic integration?
(b) Outline any three short-comings of the Economic Community of West African States (ECOWAS)
(c) Highlight any three achievements of the Economic Community of West African State (ECOWAS)