National Economy Q5

Q.
a) Explain the following terms in the context of national economy:-

i) Gross Domestic Product (GDP). (3 marks)

ii) Primary sector. (3 marks)

iii) Secondary sector. (3 marks)

iv) Tertiary sector. (3 marks)

b) Define inflation and explain the different degrees of inflation. (8 marks)

(20 marks, 2013 Q5)