S5 Economics Revision Exercise 2: Production Costs and Economies of Scale

This revision exercise from Trinity College Nabbingo provides Senior 5 economics questions on production costs and the organisation of production. Learners complete a cost table using fixed, variable, total, average and marginal costs. Other questions explore internal and external economies of scale, external diseconomies, and the distinction between pecuniary and real economies. The exercise also examines entrepreneurship, reasons small firms remain small, differences between land and capital, and constraints to capital accumulation in Uganda. Prepared by Ms. Nabulya Mary Kintu, it combines definitions, calculations and discussion questions without supplied answers.