CSEC Economics · May/June 2009 · Paper 2 · Question 8(a)
Define the term 'economies of scale'.
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- 8(b)With the aid of a diagram, explain the relationship between marginal cost and average cost curves.[5 marks]
- 8(c)(i)Outline TWO factors that might cause inflation in the Caribbean.[4 marks]
- 8(c)(ii)Identify ONE consequence of inflation in the Caribbean.[1 mark]
- 8(d)Discuss TWO measures that can be adopted to reduce inflation in your country.[8 marks]
More practice: the rest of this paper · more Costs of Production and Economies of Scale questions · all CSEC Economics past papers