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GLOBALCOMMERCE

ACADEMY
IMPORTANTQUESTIONSFOR1stANNUAL2012
B.com(l)ECONOMICSBC303
Prof.MNawaz03007947703Prof.MianNiazShakir03446659950

1. CompareandContrastthedefinitionseconomicsbyALFEREDMARSHAL
andROBINS?
2. Explainthelawofdiminishingmarginutility?
3. ExplainthelawofEQUIMARGINUTILITY?
4. DefineELASTICITYOFDEMANDandhowitismeasured?
5. Explaintheconceptofconsumersurplus?
6. DefineICexplainitsproperties?
7. DescribeindetailLAWOFVARIABLEPROPORTIONATE?
8. Defineperfectcompetitionhowpriceandoutputunderperfect
competitioninshortrun?
9. DefineMONOPOLYandhowpriceandoutputundermonopoly?
10.ExplainRicordianTheoryofRent?
11.DefineNI.ANDexplainitsdifferentconcept?
12.DefineNIandhowitsmeasured?
13.DefineTAXwhatarethecanonsofTaxations?
14.ExplaintheroleofSTATEINISLAM?
15.DefineDIRECTandINDIRECTTAXandgivetheirmeritanddemerits?
16.DifferentiatebetweenZAKATandTAX?
17.DefineFISCALPOLICY.Whatisitsobjective?
18.Derivative(speciallycostfunction)

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