(a)Define economies of scale.           

(b) Explain the following:
(i)  managerial economies;
(ii) technical economies.

(c) Describe any four disadvantages of large scale production.

(a) What is a tax?

(b) Distinguish between tax evasion and tax avoidance.

(c) Identify any four benefits of tariffs.

(a) What are natural resources?          

(b) Identify any three contributions of forest resources to the economic development of your country.

(c) Describe any three negative effects of the exploitation of mineral resources.

The fundamental economic problem in every society is

A point X inside the production possibility curve indicates that