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 Form 3 business studies revision questions and answers set 2

The economy of the country has grown at the rate of 10% per annum for the last three years. However , the standard of living among citizens has not changed. Outline four reasons that may account for this trend.

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Answer Text:
-Inaccurate statistics
-Product nature do not improve/satisfy their immediate wants
-Disparities in income distribution
-Higher social cost
-No real damage in money value


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