- Back to Home »
- IMPORTANT QUESTIONS OF ECONOMICS (B. ADMIN 504) FOR MBA OF PUNJAB UNIVERSITY BY AHSAN KHAN ECO
Posted by : Ahsan Khan Thursday, 7 February 2013
IMPORTANT QUESTIONS OF ECONOMICS (B. ADMIN 504) FOR MBA
OF PUNJAB UNIVERSITY AT AFFILIATED COLLEGES ANNUAL SYSTEM
RECOMMENDED BOOK: MANAGERIAL ECONOMICS (2012-13) AUTHOR: AHSAN KHAN
The Nature and Scope of Economics:
- 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 other 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.
- 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.
- 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.
- 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?
- 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.
- 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.
- 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.
Note: Bolded questions are more important.