Explain the complete cycle of production

This paper concentrates on the primary theme of Explain the complete cycle of production in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.



Instructions to candidates:


a) Time allowed: Three hours (plus an extra ten minutes’ reading time at the start – do not write anything during this time)

b) Answer any FOUR questions

c) All questions carry equal marks. Marks for each question are shown in [ ]


1. a) Explain the complete cycle of production. [8]

    b) Explain the term ‘wealth’. [8]

    c) Describe the factors of production. [9]


2. a) Explain the term ‘business environment’. [8]

b) Discuss the twin problems of creating wealth. [9]

c) Explain the term ‘planned economy’. [8]


3. a) Why is profit important to business? [10]

    b) What are the chief diseconomies of large scale output? [10]

    c) List FIVE occupations in personal services. [5]


4. a) Explain the importance of money. [10]

    b) What is money that does not have intrinsic value? [5]

    c) Describe the nature of the economy of YOUR country. [10]


5. Write notes on FIVE of the following:


a) Labour

b) Law

c) Three parts of the business environment

d) Consequences of growth

e) Public sector

f) Countertrade

g) Interest [5 each]

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