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Theory of production questions

Theory of production questions | form five Economics

Find Theory of production examination questions, form five Economics in acaproso.com

# Question
1

“No profit, no production”. Does this mean that wages, interest and rent are not important payments in production?


Short answers
2
  1. Define
  1. Labour
  2. Efficiency of labour
  1. Identify the factors which influence the efficiency of labour.

Short answers
3

Discuss the pricipal determinants of wage in TANZANIA.


Long answers
4

Why are some groups of workers paid more than others?


Long answers
5

What is the main significance of mobility of labour?


Long answers
6

Distinguish between the following

  1. Specific factor of production and Non-specific factor of production
  2. Specialization by process and specialization by crft
  3. Very short run period and Short run period
  4. Production and productivity

Short answers
7

Study carefully the following information of Kitwe Tea farm and answer the questions that follow. Assume Land is fixed.

Labour(units) 1 2 3 4 5 6 7 8 9 10
Total product 30 70 120 180 250 320 390 430 450 460
Marginal product                    
  1. Fill in the blank spaces.
  2. Draw a marginal product curve and show the areas where the farm experiences
    returns to scale.

Short answers
8

What are the main forms of intervention taken by the Tanzania government to control economic activities?


Short answers
9
  1. Distinguish time rate system from piece rate system.
  2. Provide four advantages and four disadvantages of time rate system.
  3. Provide four advantages and four disadvantages of piece rate system.

Short answers
10

Briefly describe five factors that determine real wages.


Short answers