Q1. Q2.

Differentiate between economic development and economic growth. Explain the factors which determine the rate of economic growth in a country.(POINTS)

Q3.

Define economic growth. Explain the factors which determine the rate of economic growth in a country.(DEFINED)

Q4. Q5. Q6. Q7.

Differentiate between developing and developed countries. (POINTS) Differentiate between developing and developed countries. (DEFINED) What are advantages and disadvantages of economic growth? (POINTS) What are advantages and disadvantages of economic growth? (DEFINED)

Q8.

Effects of policies of developed countries on developing countries. (POINTS)

Q9.

Effects of policies of developed countries on developing countries. (DEFINED)

Q10. Q11. Q12. Q13.

Explain the concept of National Income The concept of Factor cost and market price How National Income is measured? Explain the difference between the income, expenditure and output methods of measuring National Income.

Q14.

What difficulties are involved in measurement of National Income? (POINTS)

Q15.

What difficulties are involved in measurement of National Income? (DEFINED)

Q16.

Why do countries calculate NI /purpose / uses / importance of calculating NI?

Q17.

Why is NI/ GNP calculated? Or explain the reasons for calculating of NI/ GNP Or explain the importance of calculating NI/ GNP.

Q18. Q19.

How may a countrys GNP/ NI be increased? How is it possible for a countrys GDP to grow while its standard of living (SOL) fall? (POINTS)

Q20.

How is it possible for a countrys GDP to grow while its standard of living (SOL) fall? (DEFINED)

Q21.

Discuss the value and limitations of NI statistics as a means of making international comparisons of living standards.

Q22. Q23.

Explain limitations of calculating GNP/ NI statistics. News reports often features NI statistics. What are the uses and limitations of these statistics?

Q24.

Productivity is the key of international competitiveness, the security of our jobs and the prosperity of our nations. Explain

Q25.

Analyze the policies a developing country could adopt in order to improve its world economic ranking?

Q26.

How far do developing countries face the same economic problems as developed nations?

Q27. Q28.

Differentiate between a countrys GDP and GNP. If the unemployment rises in the country will its standard of living necessarily decline?

Q29.

Discuss the role of private consumption and gross fixed investment in economic expansion in the short and long run.

Q30. Q31. Q32.

What are the kinds of taxes? Why are taxes levied/ Effect/ Reasons/ Advantages of taxes? (POINTS) Why are taxes levied/ Effect/ Reasons/ Advantages of taxes? (DEFINED)

Q33. Q34. Q35. Q36. Q37. Q38. Q39.

What are qualities of a good taxation system? (POINTS) What are qualities of a good taxation system? (DEFINED) What are advantages and disadvantage of direct and indirect taxes? How is equilibrium level of NI determined? What is consumption, saving and investment? Explain factors affecting consumption, saving and investment. (POINTS) Explain factors affecting consumption, saving and investment. (DEFINED)

Q40.

Explain the effects of an increase in the level of investment in your country.

Q41. Q42. Q43.

Effects on consumption and saving when there is no change in income. Effects on consumption and saving when income increases. What is average propensity to consume (APC), Marginal propensity to consume (MPC), Average propensity to save (APS) and Marginal propensity to save (MPS).

Q44.

Relationship between income, consumption, saving, APC, MPC, APS and MPS.

Q45. Q46. Q47. Q48. Q49. Q50.

What are the kinds of investment? What are different shapes of aggregate demand? Relationship between consumption and saving? What are different shapes of aggregate supply? Determination of income and employment level (Classical view). Determination of income and employment level (Short run Keynes view).

Q51.

Determination of income and employment level (Long run Keynes view).

Q52.

Determination of income and employment level (Withdrawals and injection approach).

Q53.

Define multiplier. Show how value of multiplier differs?

Q54.

In a closed economy without government sector the value of multiplier is 5. In UK it is estimated to be 1.3. Explain the multiplier process and suggest why the two value quoted are so different?

Q55.

What is meant by the equilibrium level of national income? Describe the multiplier process as national income changes.

Q56.

How would the outcome of multiplier process be affected by i. ii. An increase in level of savings An increase in the level of exports

Q57.

Explain what is meant by the equilibrium level of national income and what happen to that equilibrium if there were reduction in consumer spending.

Q58. Q59.

Distinguish between inflationary and deflationary gap. Discuss whether an increase in aggregate level of consumption is always beneficial to an economy.

Q60.

Discuss what influence the rate of interest might have on the level of investment in an economy, or analyze the effect of interest rate on the level of investment.

Q61. Q62. Q63.

What are kinds of unemployment or what are causes of unemployment? Outline the determinants of level of national income in an economy. Discuss whether it is possible for government to do anything to reduce the effects of fluctuations in national income.

Q64.

Discuss how a significant fall in the level of interest rate might affect the components of aggregate demand.

Q65. Q66.

Define and explain the working of accelerator. What is business cycle or trade cycle? What are its different phases? (POINTS)

Q67.

Define business cycle or trade cycle. What are its different phases? (DEFINED)

Q68.

What is the relationship between inflation and unemployment?(Short run Philips curve)

Q69. Q70.

What is long run Philips curve? (Monetarist View) (a) Would you support the implication of the statement that inflation is caused by consumer spending? (b) Discuss whether IR alone is likely to be an effective method of controlling inflation.

Q71.

A high level investment by itself will not be enough to ensure economic development. Discuss this view.

Q72.

What is capital? How is capital accumulated? Explain the link between capital and economic growth.

Q73.

Explain and comment on the part which capital accumulation plays in economic growth.

Q74.

How would you measure the size of the firm? (POINTS)

Q75. Q76. Q77. Q78. Q79.

How would you measure the size of the firm? (DEFINED) What are reasons for survival of small firms? (POINTS) What are reasons for survival of small firms? (DEFINED) Differentiate between economies and diseconomies of scale? What are the cost advantages of large scale firms OR What are the reasons for internal economies of scale?

Q80. Q81. Q82. Q83.

What are the reasons for external economies of scale? What are different kinds of Economies of scale? What are advantages and disadvantages of small scale production? What are the reasons for diseconomies of scale?(Disadvantages of large scale production) (POINTS)

Q84. Q85. Q86.

What are the reasons for diseconomies of scale? (DEFINED) What are advantages and disadvantages of Monopolies? Define and explain the perfect competition, monopoly and monopolistic competition and oligopoly.

Q87. Q88. Q89. Q90. Q91. Q92.

What are economic effects of oligopoly? When is price discrimination possible? When is price discrimination profitable and when it is not profitable? How is price and output determined under price discrimination? Is price discrimination is beneficial to society? Define different costs incurred during production process?

Q93. Q94.

What are different kinds of revenues? Relationship between TR, AR and MR under perfect competition(NONPRICE COMEPETITION)

Q95. Q96.

Relationship between TR, AR and MR under Imperfect competition. Profit maximization, revenue maximization, marginal cost pricing, Firms short run supply curve, productive and allocative efficiency.

Q97.

How price and output determined in short is run under perfect competition Or explain short run equilibrium of firm under perfect competition.

Q98.

How is price and output determined in long run under perfect competition Or explain long run equilibrium of firm under perfect competition.

Q99.

How is price and output determined in SR and LR under monopoly OR explain SR and LR equilibrium of firm under monopoly.

Q100.

How is price and output determined in SR and LR under monopolistic competition Or explain SR and LR equilibrium of firm under monopolistic competition.

Q101.

Comparison of price and output under perfect competition and imperfect competition and explanation of productive and allocative efficiency.

Q102.

What is the difference between accountants and economists concept of cost?

Q103.

What is difference between transfer earning(TE) and economic rent(ER)? How area of transfer earning and economic rent changes?

Q104. Q105. Q106. Q107.

Define and explain the law of returns or the laws of costs. The combination of laws of returns or law of costs. Explain law of return to scale. Explain the law of variable proportion or explain relationship between TR, AP and MR or explain three stages of proportion or the law of diminishing return.

Q108. Q109. Q110.

How wages of the workers are determined in free market? Define minimum wages. What are the effects of raising minimum wages? Define marginal physical product of labour (MPPL) and marginal revenue physical product of labour (MRPL).

Q111.

How wages are determined under perfect competition or explain marginal revenue productivity theory under perfect competition (MRP theory)?

Q112.

How wages are determined under imperfect competition or explain marginal revenue productivity theory under Monopsonist (MRP theory)?

Q113. Q114.

What are the causes of wage different in different jobs / same jobs? Why do people earn different amounts? Or What are the causes of different in wages?

Q115.

Why wages of male and female are different?

Q116.

Women, on average, are paid a lower hourly wage rate than man. What economic reasons are there for this disparity?

Q117. Q118. Q119. Q120. Q121.

How productivity of the workers can be increased? What is trade union? What function are performed by trade union? What is the marginal revenue product of a factor of production?

Analyze the likely causes of an increase in MRP of a lorry driver. Explain the likely consequences for the earning of lorry drivers of an increase in their marginal revenue productivity.

Q122.

Do you agree that the higher wages paid in some occupation occur solely because some trade union have stronger bargaining positions than other?

Q123.

Use the MRP theory to discuss the possible effects of wages and employment of the introduction of a national minimum wage in the industry. OR Discuss whether a government should attempt to set a minimum wage?

Q124.

MRP theory suggests that level of wages in an industry is determined. How realistic do you consider this explanation to be?

Q125. Q126.

What functions are performed by central bank (CB)? How credit is controlled by the central bank OR How bank controls money supply OR What are the instruments of monetary policy? (POINTS)

Q127.

How credit is controlled by the central bank OR How bank controls money supply OR What are the instruments of monetary policy? (DEFINED)

Q128. Q129.

What functions are performed by commercial banks? Role/ importance of commercial banks in economic development of a country.

Q130. Q131. Q132. Q133. Q134.

Explain how commercial banks create credit? What difficulties might arise from credit expansion? (POINTS) What difficulties might arise from credit expansion? (DEFINED) How is value of money measured? What problems are involved in measuring changes in the value of money? (POINTS)

Q135.

How substantial are the problems involved in measuring changes in the value of money? (DEFINED)

Q136. Q137. Q138. Q139.

How prices are measured? What is quantity theory of money? Explain Loanable funds theory of interest(Monetarist View) Explain Liquidity Preference or Keynes Theory of interest rate determination.

Q140.

Discuss whether Liquidity Preference theory provides an adequate explanation of the level of Interest Rate in your country.

Q141. Q142. Q143. Q144. Q145.

Why money is demanded? Why do lenders are required a price to be paid for the loans they obtain? Why are borrowers prepared to pay a price for the loans they obtain? Consider whether it is important to limit the demand for money? Discuss the possible consequences of an increase in supply in supply of money.

Q146. Q147. Q148.

What are the aims of Government macro economic policies? What policies are used to achieve aims of Government? How macro economic policies are used to achieve Govt aims of economic growth and full employment?

Q149.

How macro economic policies are used to achieve Govt aims of removing deficit in BOP?

Q150.

How macro economic policies are used to achieve Govt aims of removing inflation?