(a) What is an economic system?
(b) Outline any four features of a capitalist economy. 

(a) What is population census? 
(b) Describe the problems faced in conducting a population census in your country. 

(a) What is elasticity of supply? 
(b) when is supply elastic? 
(c) Explain any four factors that influence elasticity of supply.

(a) Why would a producer (i) enter a competitive market? (ii) leave a competitive market? 
(b) In what two ways do consumers benefit from perfect competition? 
(c) Give the two conditions necessary for profit maximization for a perfectly competitive firm. 

(a) Explain the following strategies of industrialization: 
(i) import substitution (ii) export promotion 
(b) Highlight any four objectives of industrial development programmes in your country.