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  • Practise Question For ECO211E

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    FISH JELLY
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    This document provides 11 practice questions covering key topics in the economics course ECO211E, including the relationship between economics and scarcity, opportunity cost, factors of production, microeconomics vs macroeconomics, the production possibilities frontier model, demand and supply factors, price elasticity of demand, factors affecting elasticity, market structures, and fiscal and monetary policies used in Malaysia.

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    Practise Question for ECO211E

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    This document provides 11 practice questions covering key topics in the economics course ECO211E, including the relationship between economics and scarcity, opportunity cost, factors of production, microeconomics vs macroeconomics, the production possibilities frontier model, demand and supply factors, price elasticity of demand, factors affecting elasticity, market structures, and fiscal and monetary policies used in Malaysia.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    24 views1 page

    Practise Question For ECO211E

    Uploaded by

    FISH JELLY
    This document provides 11 practice questions covering key topics in the economics course ECO211E, including the relationship between economics and scarcity, opportunity cost, factors of production, microeconomics vs macroeconomics, the production possibilities frontier model, demand and supply factors, price elasticity of demand, factors affecting elasticity, market structures, and fiscal and monetary policies used in Malaysia.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Practise Questions for ECO211E

    1) Economics always relate with scarcity. Explain the relationship between economics and scarcity.

    2) What is opportunity cost? Give an example of it.

    3) Explain what you understand about factors of productions

    4) What defines microeconomics?

    5) What defines macroeconomics?

    6) What is PPF and why is it an important economic model

    7) Why is important to understand demand and supply. What are the relevant factors that affect the
    demand and supply of a certain products?

    8) Price elasticity of demand is an economic measure of the change in the quantity demanded or
    purchased of a product in relation to its price change. Why is important to understand price elasticity of
    demand.

    9) What are the factors effecting price elasticity of demand.

    10) Discuss types of market structures available in our economics system.

    11) Discuss in details about fiscal and monetary policies, which are practise in Malaysia.

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