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3 marksFactors and Levels of Production

CSEC Principles of Business · January 2011 · Paper 2 · Question 5(b)(ii)

Distinguish between the following pairs of terms:

Subsistence level production and domestic level production

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Other parts of this question

  1. 5(a)Identify the traditional factors of production that EACH of the five M's, in the above statement, represents.[5 marks]
  2. 5(b)(i)Primary production and tertiary production[3 marks]
  3. 5(b)(iii)Backward linkage and forward linkage[3 marks]
  4. 5(c)Discuss TWO factors that must be considered when selecting a location for a large shopping mall.[6 marks]

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