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Tag: Important Questions of Economics for MBA Students

Important Questions of Economics for MBA Students

Important Questions of Economics for MBA Students

Discuss the Definition of Adam Smith in Detail with its Characteristics and Criticism?
State and explain the definition of economics given by Alfred Marshall?
State and explain the definition of economics given by Robbins?
Make comparison between Marshall and Robbins definitions of economics?
Define the Positive and Normative Economics. Differentiate the concepts of Microeconomics and Macroeconomics?
Explain the features of Islamic Economics System in detail. Also compare it with economic systems.
Discuss in detail the features and drawbacks of Market or Capitalistic Economic System.
Discuss in detail the features and drawbacks of Command or Communism/Social Economic System.
Discuss in detail the features and drawbacks of Mixed or Pakistan’s Economic System.
Define and Explain in detail Production Possibility Curve / Frontier.
Demand:
Explain the Law of Demand with its Assumptions. Also illustrate it by Schedule and Graph?
Define the concepts of Individual and Market Demand with its determinants.
Differentiate between Movement and Shift in Demand through table and diagram.
Supply:
Explain the Law of supply with its Assumptions. Also illustrate it by Schedule and Graph?
Discuss the various types of supply with their determinants.
Differentiate between Movement and Shift in Supply through table and diagram.
Market Equilibrium:
Explain the equilibrium of demand and supply with the help of schedule and diagram?
Discuss the various types of Market in detail.
Explain the Price Ceilings and Price Floors Programs.
Elasticity of Demand and Supply:
Explain the Concept of Elasticity of Demand. How the Elasticity of Demand is Measured? Also explain its determinants or factors.
What are the Various Types of Elasticity of Demand?
Explain the Concept of Elasticity of supply. How the Elasticity of supply is Measured? Also explain its determinants or factors.
Consumer Behaviour and Utility Maximization:
Explain the law of diminishing marginal utility with the help of schedule and diagram?
Explain the law of equi-marginal utility. What are its limitations and practical importance?
Define Indifference Curve with its major properties?
Explain the Consumer’s Equilibrium through IC analysis.
Substitution Effect + Income Effect = Price Effect
Production and Business Organization:
Explain the law of diminishing (marginal) return with the help of schedule and diagram?
Explain the law of increasing (marginal) return with the help of schedule and diagram?
Explain the law of constant (marginal) return with the help of schedule and diagram?
Explain the law of variable proportion with the help of schedule and diagram?
What are the various types of Production Functions? Discuss various laws of Return to Scale.
Costs of Production:
Discuss various types of Cost faced by a manager during managerial decision making process.
Explain and Illustrate the Cost Curves of the firm in the Short Run and Long Run?
Define and explain the in detail Economies of Scale and Economies of Scope.
What is link between Production and Costs?
Market Structure:
Define perfect competition. Explain equilibrium of the firm in the short run and long run.
Define monopoly. How price and output is determined under monopoly in the short run and long run. What are its costs and benefits?
Define monopolist competition. How price and output is determined under it in the short run and long run.
Define Oligopoly. How price and output is determined under it.
Factors Market:
Explain the marginal productivity theory with its criticism?
What are Iso Quant curves? Discuss its major properties.
Explain the Firm’s or Producer’s equilibrium through IQ analysis. OR Discuss the Optimal Combination of Resources.
Explain the equilibrium in labour market theory table and graph. OR Explain the modern theory of factor’s pricing.
Macro Economics:
What is macroeconomics? Discuss its major issues with respect to Pakistan.
Define National Income and Discuss the Various Concepts of National Income?
What are the Methods of Measuring/Accounting National Income? Also describes its various difficulties.
Discuss the circular flow of national income.
What is meant by economic growth? Make differentiate between economic development and economics growth.
What is business cycle? Discuss it phases and various theories.
What is unemployment? Discuss its types, causes and measures.
State and explain in detain “Okuns Law”.
What is inflation? What are its types, effects and causes?
What is monetary policy? Explain its objectives thorough its tools.
What is fiscal policy? Explain its objectives thorough its tools.
Discuss various causes of Poverty and Inequalities in Pakistan, also suggests measures to remove it.
Differentiate between Balance of Trade and Balance of Payment. Why these are deficit in Pakistan. Give measures to correct it.

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