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The very existence of market failure suggests government intervention and provision. Discuss and illustrateWhat do you understand by the phrase ‘economic efficiency’?
Illustrate the main causes of the unemployment. To what extent can fiscal and monetary policies be employed to deal with a high rate of the inflation?
Illustrate out the relationship between inflation and unemployment in short run and long run. Using the concept of the multiplier, discuss and describe how a country’s involvement in internatio
Write down the strengths and weaknesses of mixed economy. Compare and contrast the short-run and long-run output decisions of perfectly competitive firm and the monopoly.
Illustrate the concept of circular flow of income. What do you understand by the term economic growth? Identify and comment briefly on the possible contributors to economic growth.
Using instances explain the concepts of diseconomies and economies of scale? Make a distinction between price, income and cross elasticities of demand for product.
Briefly verify the cases for government intervention in economy. Suggest and evaluate ways of how government actually intervenes in such a condition.
What do you meant by the term Functional organizational structure? State any two benefits and two drawbacks of such structures.
There are many objectives of business and economics which are one among them. Describe these economic objectives.
As controlling ‘the end’ of management functions cycle? Give reason to support your answer.
Describe the meaning of deficit in the Balance of Payments.
How can budgetary policy are utilized for reducing in the equalities in income and wealth?
Describe the likely behavior of Total Product and Marginal Product when for rising production only one input is raised while all the other inputs are kept constant.
Describe the implication of product differentiation feature of the monopolistic competition.
What causes an upward movement all along a demand curve of a commodity?
Illustrate the meaning of Nominal GDP and Real GDP. Which of such is the indicator of the economic welfare?
Describe the relation between marginal revenue and average revenue if a firm is capable to sell more quantity of output
Describe the shape of a production possibility frontier. Describe the Central problem ‘how to produce’.
What will be the impact of raise in the excise duty on the Equilibrium Price and Quantity of a Commodity? Illustrate by using a diagram.
Describe the determination of the Equilibrium Price under Perfect Competition with the aid of Schedule.
By using a hypothetical illustration, describe how the Market Supply Curve is determined from Individual Supply Curve of the three firms?
The Price elasticity of Supply of a commodity is 2. If its price drops from Rs 10 to 8 per unit, its Quantity Supplied drops by 500 units.
Illustrate when the Elasticity of Supply of commodity is equivalent to Unity?
Discuss and describe the various kinds of economies of scale and discuss whether they always enhance the welfare of consumers.
Clearly describe the relationship between Poverty, Economic Growth and Inequality. Using instances of Least Developed Countries, describe the causes and consequences of market failures.