What is production?
Define the term producers and consumers?
What is division of labour?
What are the advantages and disadvantages of division of labour?
What are the sectors of division of labour?
What is commercial service and direct personal service?
What is home trade and foreign trade?
What are the aids to trade?
What is chain of production?
Describe the chain of production for a table made of wood?
‘Value is added at each stage of production’, explain the meaning of this statement with reference to a table made of wood.
Distinguish between primary and manufacturing industries?
Distinguish between primary, secondary and commercial branches of production?
What is barter economy?
What is money?
What are the characteristics and functions of money?
What is money and legal tender?
