Correct Answer: C. active labour force in West Africa

Explanation

Agriculture accounts for about 60% of the active labour force in West Africa. This is because a large portion of the population in West Africa is engaged in farming and other agricultural activities for their livelihood. The other options are incorrect as agriculture does not account for 60% of the arable land, service sector activities, or the commodity market in West Africa.

Correct Answer: C. rise in the inflation rate

Correct Answer: A. average number of people per square kilometre

Correct Answer: A. deals with an aspect of human behaviour

Correct Answer: A. relates to value judgement

Correct Answer: A. Diversification of the economy

Explanation

Economic diversification is the process of shifting an economy away from a single income source toward multiple sources from a growing range of sectors and markets. Traditionally, it has been applied as a strategy to encourage positive economicgrowth and development.

Explanation

for fig B:

(i) There will be excess demand of (Q\(_1\) Q\(_0\))

(ii) There will be hoarding of goods.

(iii) Rationing will occur because of shortage of goods.

(iv) Development of black marketing at higher price.

(v) Prices paid for goods do not reflect the relative values of goods and services.

Correct Answer: C. private individuals

Correct Answer: B. GDP

Correct Answer: A. that production is inefficient

Explanation

Production possibility curve (PPC) shows the possible combination of different commodities that can be produced in a given economy given the prevailing level of technology, if all the available productive resources are efficiently utilised. The reason for the shape of the PPC is something called the law of increasing opportunity costs. Basically, what this means is that as an economy devotes more of its resources to one kind of product, it becomes less efficient because, not all resources are equally suitable for all the industries. If resources are transferred from good A to B, initially the resources to be transferred will be those which could be the least efficient for A. Later, as more of good B needs to be produced, the resources that may be very efficient for good B and not so efficient for good B may also be transferred. In this situation, the economy loses on both sides. That means, the economy is usually inefficient on both ends of the PPC curve while it is the most efficient when resources are appropriately allocated for both goods according to their suitability which make the PPC to be curved. This is why the PPC is flatter at its end point and more curved in the middle.