(a) Identify and discuss the key assumptlons of this theory (b) Identify and discuss the maln predictions of this theory and examine their policy implications. (c) Identify and examine the two main circumstances under which the theory's predictions fall to hold
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- Multiple Choice Questions on Micro Economics with reason s 1. Micro economics theory deals with (a) Economic behavior of required. individual economic decision making units; (b) Economy as a whole ; (c) Trade relations ; (d) Economic growth of the society 2. Which of the following is a central problem of every economy (a) Abundance of resources ; (b) Scarcity of economic resources ; (c) Poverty; (d) Moral and ethical values 3. Equilibrium relates to which of these (a) Market condition which oscillate ; (b) Market state of falling price; (c) Market condition of rising price ; (d) Market conditions which once achieved tends to persist 4. Normative economic theory deals with (a) What is or how the economic problem facing the society are solved; (b) How the problem should be solved ; (c) What to Produce ; (d) How to produce 5. In a mixed economy which sector(s) is/ are found (a) Private Only ; (b) Public sector only ; (c) None ; (d) Both a and ba.Discusses the principles of individual decision making with examples b.Explain with your own words the determinants of price elasticity of demand. c. The production possibilities frontier curves show the concepts of scarcity, choice, opportunity cost, efficiency and economic growth. Discuss with examples, d. Do you think that the pure market economy in these circumstance of COVID 19 play an effective role in economy? Give four evidences from your point of view. ReplyForwardSubject= Macro-Ecnomics COVID-19 all around the world has restricted the economic activity. To stop the spread of the virus Pakistan like many other countries adopted the policy of smart lockdown. Shutting down of the industry has created adverse supply shock in the economy. While, the slowdown in business and economic activities the country is in the recessionary phase of the business cycle as the GDP growth for the FY 2020-21 is expected to be -0.2 accompanied by high unemployment and poverty rate. A. Reflecting on the above situation justify whether the State Bank of Pakistan should opt for easy or tight monetary policy as a stabilization policy. Also illustrate it graphically. (Maximum 200 to 350 words)(Write it unique don't copy paste) B. Reflecting on the above situation justify whether the Government of Pakistan should opt for expansionary or contractionary fiscal policy as a stabilization policy. Also illustrate it graphically. (Maximum 200 to 350…
- Power point ion Remember to give proper credit to your sources in a bibliography section. 1) Name of Economist 2) Their background 3) Economic Theory they presented or expanded or found problem with. Explain the theory. 4) Where did they work? 5) Other important contributions. etc. Remember to give proper credit to your sources in a bibliography section. 1) Name of Economist 2) Their background 3) Economic Theory they presented or expanded or found problem with. Explain the theory. 4) Where did they work? 5) Other important contributions. etc. Remember to give proper credit to your sources in a bibliography section. 1) Name of Economist 2) Their background 3) Economic Theory they presented or expanded or found problem with. Explain the theory. 4) Where did they work? 5) Other important contributions. etc. Remember to give proper credit to your sources in a bibliography section. 1) Name of Economist 2) Their background 3) Economic Theory they presented or expanded or found…Q.4 Microeconomics How incentives affect people’s behavior. The question: Does the seat belt law make people safer? You might talk about the role of incentives. The word "safer" meaning more safe is correct. In the most general terms, an incentive is anything that motivates a person to do something. When we're talking about economics, the definition becomes a bit narrower: Economic incentives are financial motivations for people to take certain actions. However, the discussion is focused on seat belt law and what are incentives surrounding it.3. Technology has the ability to disrupt industries. You are involved in an industry that is undergoing changeand disruption by taking this class. The traditional textbook industry is being disrupted by the availabilityof digital textbooks, and free textbooks such as this one are further impacting traditional textbookpublishers. Place the following statements into Porter’s Five Forces model.a. Students have access to the material at a greatly reduced cost.b. Authorship is funded through philanthropic donations rather than royalties paid from textbook salesrevenue.c. More students have access to the Internet than ever before.d. Companies, governments, and students invest large sums of money in their education.e. Traditional public educational institutions are adapting their delivery models for online learning.f. Private companies such as Apollo (University of Phoenix) are offering lower-cost education options.g. Bookstores now offer traditional textbooks as well as used and rental…
- 1- The world’s most innovative companies have largely created structures that remove structural barriers. They have established an innovation culture and improved their innovation capability. This refer to a) Process innovation b) Management innovation c) Organizational innovation d) Services innovation 2- If a company has a large variety of processes in the manufacturing and a low volume of jobs then the right type of “Product Process Type” would be…..… a) Project b) Jobbing c) Batch d) Mass 3- The various systems needed to ensure industrial plants operate smoothly to produce goods and services. Within such a system, operators monitor, control, and fix the components that help run everything from power plants to water refineries to manufacturing facilities. a) Process innovation b) New product lines c) Process technology d) Sequential model1. Production Possibility Curve for the economy is concave to the origin. Provide an explanation for this. Substantiate your answer with a diagram and an economic logic. 2. Discuss the long-term microeconomic implications of COVID -19 on the I.T Industry. 3. Why does economy exist in the world?6. The theory developed by Linder provides an answer for:a. The product life cycleb. The model based on factor endowmentsc. The production of wide-ranging economiesd. Trade based on intra-industrial activities
- Topic A Problem: A friend of yours says, “in a capitalist economy, if people are willing to pay a lot for something, then businesses will charge a lot for it.” Is your friend’s statement always true? If not, when would this statement be false, and why? please answer using microeconomics terms,for example businessess in competitive markets. thanks.Question 1Define the difference between following terms :i) Microeconomics versus Macroeconomicsii) Normative statements versus positive statementsiii) Change in Supply versus change in quantity suppliediv) Law of Demand versus law of supplyv) Determinants of Demand versus determinants of Supplyvi) Opportunity cost versus Marginal costvii) Price Elasticity of Demand versus Cross-Price Elasticity of Demand.viii) Perfect competition versus competitive marketsix) Invisible hand theory versus price controlsx) ‘Free lunch’ versus ‘there’s no such thing as free lunch’xi) ‘How people make decisions’ versus ‘How people interact’ Note: kindly answer the all above terms with example if you want upvote for your answer thanksCategorize the following as microeconomic or macroeconomic questions: iv) Why is the Barbados experiencing high rates of inflation? (v) How large is KFC’s share of the fast food industry? (vi) How will implementation of a minimum wage rate affect your 17 year old
