posted by Noor on .
1(a) How do wants differ from desires? How do wants arise and grow? (In 60-80 words)
(b)Explain any five factors which influence classification of wants into necessities, comforts and luxuries. (In 60-80 words)
(c) How are production, consumption and investment inter-related? (In 60-80 words)
2(a) State any five main characteristics of labor as a factor of production.(in 60-80 words)
(b) How are the private sector production units classified on the basis of owners? Give one example of each category.(in 60-80 words)
(c) Distinguish between departmental enterprises and non-departmental enterprises. Give one example(in 69-80 words)
3. What is meant by increase in production? What is there a need for increasing production? (in 250 words)
4. What is the role of insurance in distribution of goods and services? (in 250 words)
Please note that we don't do students' homework for them. Our tutors try to give you the information to help you complete your assignment on your own. If there's not a tutor with this specialty online right now, be sure to go back into your textbook or use a good search engine. http://hanlib.sou.edu/searchtools/
Once YOU have come up with attempted answers to YOUR questions, please re-post and let us know what you think. Then someone here will be happy to critique your work.