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5. Calculate the participation rate for the following data. (3 marks)<br />

Total labour force = 12,000,000<br />

Total employable population = 24,012,982

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5. Calculate the participation rate for the following data. (3 marks) Total labour force = 12,000,000 Total employable population = 24,012,982

Section III: Short Answer <strong>Question</strong>s – 40 marks Answer the following short answer questions in full sentences. Make sure you use pen and write clearly. 1 Explain what the law of diminishing returns means. Draw a graph to illustrate the law of diminishing returns. (5 marks) 2. What are the three factors of production? Now, provide a real life example of each one. (5 marks)

Page 1 and 2: Canadian International Matriculatio
Page 3 and 4: _____ 5. What was Karl Marx’s maj
Page 5 and 6: _____ 17. GDP falls and unemploymen
Page 7: 3. Calculate the unemployment rate
Page 11 and 12: 5. What are the three economic syst
Page 13 and 14: Section IV: Paragraph Answers - 20

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