Question 1:
a. Describe the reasons why people demand money?
b. Describe how far estimates of GDP are good measures of national welfare of country.
Question 2:
a. “The Mauritian Economy has gone through a number of structural changes since its independence in 1986”. Discuss.
b. To what extent is international trade advantageous to a small island economy like Mauritius?
Question 3:
Write short notes (not more than three paragraphs) on any three concepts from the list:
i) Opportunity cost
ii) Price taker and price maker
iii) Differentiation between monopolistic competition and monopoly
iv) Absolute and relative poverty