Economics

Sr.
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Topic
1 Describe the terms balance of payment and balance of trade? What are the causes of
unfavorable balance of payment in Pakistan? How we can measure/correct the adverse balance
of payment?
2 What is foreign exchange rate? How it is determined? What are the exchange rate policies of
balance of payment of any government?
3 Define inflation? What is Demand pull and cost push inflation and what are their causes? How
to control the inflation in any economy?
4 What is the relationship between unemployment rate and inflation according to the Phillips
Cure?
5 Who control the monetary policy of any country and what are the tools of monetary policy?
6 “Fiscal policy is controlled by government of any economy”. Explain it under objectives and
tools of fiscal policy?
7 Define budget and its types? What are the roles of budget for any economy?
8 What are the principles of good taxation system?
9 Define tax? What are the kinds of taxes? Explain their merits and demerits.
10 How interest is determined according to the demand and supply forces of money? (Liquidity
preference theory or Keynesian Theory)
11 Define “Quantity theory of money” Explain with the help of equation, diagram and criticism.
12 What is commercial bank? Explain its banking and non-banking functions.
13 Define money? Explain its components, functions and characteristics.
14 Differentiate the concept of consumption and saving? Explain the relationship between them
with the help of suitable table and diagram.
15 Define national income? What are the interrelated concepts of national income?
16 Define national income? How national income can be measured? What are the determinants of
national income?
17 How any firm can be in equilibrium in a short run according to perfect competition and
monopoly?
18 Show the relationship between average cost, fixed cost, marginal cost and variable cost with
help of suitable table and diagram?
19 Explain the law of variable proportion (Also called law of diminishing return OR Relationship
between TP, AP and MP OR Production with one variable)
20 Define isoquant? Write its properties with proper diagram. Define Indifference Curve and its
properties?
21 Law of equi-marginal utility
22 Define law of diminishing marginal utility?
23 Define law of supply
24 Define law of demand
25 What is elasticity of demand? What are tis types? How we can measure the types of elasticity of
demand?

Written by Prof.Azib Miraj

Grace International Academy