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Economics•Microeconomics

Production and markets

Senior High 5 questions
AI-drafted from platform data — specialist review scheduledBy DigiTransact Mastermind editorial team
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What production and markets means

Factors of production and types of markets.

Before you start

Not confident yet? Work through Demand and supply first.

Worked example

One question from this skill's own question bank, shown with its full working.

Question

The four factors of production are land, labour, capital and:

  • Money
  • Entrepreneurship
  • Government
  • Exports
Answer: Entrepreneurship

Working: The entrepreneur organises the other factors and takes risks.

Curriculum and exam alignment

Ghana GES SHS syllabusWASSCE

Curriculum notes are a general guide to where this work normally sits. Always check the syllabus your school or examination body is currently using.

Related skills

Other Microeconomics skills in Economics, at the same point in the course.

Other Economics topics

University EconomicsDevelopment & International TradeSHS Money & BankingWASSCE Past QuestionsMacroeconomics

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Exams that assess production and markets

Senior High work on this skill feeds directly into these exam papers. Each page lists the Economics topics that appear on it.

WASSCEWASSCE practice questionsFree WASSCE practice across the subjects at this stage, with worked answers.GESGES practice questionsFree GES practice across the subjects at this stage, with worked answers.CFACFA practice questionsListed as a related subject on the CFA practice page.

How this page was produced

This text was drafted with AI assistance from the questions and topics already stored on the platform. A subject-specialist review is scheduled but has not yet been recorded, so we do not claim it here.

Written by
DigiTransact Mastermind editorial team
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5 questions with a worked answer after every attempt, and a SmartScore that tracks how close you are to mastery.

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