SECTION B QUESTION 2: : Whan the question requires you to "list or "name", you need not write a sentence but meroly the word or a phrase. This MUST be dona in bullet form. This types of questions are applicable for 2.1.1, 3.1.1 and 4.1.1 21 Name TWO economic participants that are responsible for gross fixed capital formation. 2.2 List TWO main economic sectors when calculating GDP (P). \( (2 \times 1)(2) \) 2.3 Name any TWO participants in a closed economy. ( \( 2 \times 1 \) ) (2) 2.4 Name any TWO examples of taxes on products. \( (2 \times 1)(2) \) 2.5 Name any two main categories of final consumption expenditure by government. \( (2 \times 1)(2) \) 2.6 List any TWO maln economic activities in modern soclaty \( (2 \times 1)(2) \) 2.7 Name any TWO methods of calculating GDP. \( (2 \times 1)(2) \) 2.8 List any TWO economic leakages \( (2 \times 1)(2) \) 2.9 Name TWO types of assets into which Gross fixed capital investment is divided into. \[ (2 \times 1)(2) \]
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Bonus Knowledge
Understanding the various economic participants adds an exciting layer to your knowledge! For gross fixed capital formation, think of fixed assets and infrastructure—like machinery and roads—that help drive an economy forward. These don't just improve current productivity; they lay the foundation for future growth! When it comes to GDP calculation, the two main economic sectors to consider are the primary sector, involving natural resources like agriculture and mining, and the secondary sector, which focuses on manufacturing and construction. These sectors form the backbone of economic activity, illustrating how goods are produced and consumed in society.
