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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When it comes to understanding economic participants and their roles, it’s fascinating to note that gross fixed capital formation plays a significant role in economic growth and sustainability. For instance, businesses invest in infrastructure and equipment to increase production capacity, while government expenditures on public goods like roads and schools contribute to overall economic health. It’s like a team effort where everyone pitches in to build a stronger economy! On a real-world note, the understanding of economic sectors and GDP calculation methods is fundamentally linked to how nations plan their budgets and allocate resources. For example, when a country observes a rise in its service sector, it can tailor its investments or policies to encourage even more growth in that area. This adaptability makes monitoring these sectors not only interesting but essential for long-term economic strategy and development!
