Nswer questions on the economy with the explanation and examples
hi, I want to writer a specialized economy, and he can answer these chapters with explanations and examples and graphs, as u know these chapters are very important for exam,so plz be careful, you know Some questions require lengthy answers and other short answers.
Find all the answers in the textbook, Support your answers with examples plz
Chapters are required to answer them;
C21BE2 Business Economics
Please note the exam format proposed here is subject to examinersa (internal and external) approval. You will be notified if there are changes resulting from the examinersa moderation.
The proposed exam is in two parts. Section A contains short answer questions and Section B is essay questions.
Section A consists of 6 questions and students are required to answer ALL of them. Section B has 4 questions and students are required to answer only ONE of them. Section A and Section B contributes towards 60% and 40% of the written exam mark, respectively.
Each Section of the exam has both Microeconomics and Macroeconomics questions and the split between the two is roughly equal. This means that the marks are split in half between Microeconomics and Macroeconomics.
The chapters below refer to those in John Sloman (2007), Essentials of Economics, 4th edition unless itas indicated otherwise.
Concepts: opportunity cost, production possibility curve
Concept: law of demand
Determinants of the demand for (and supply of) a good.
a? What causes the movement along a demand curve (a supply curve)?
a? What causes the shift in the demand curve (the supply curve)?
a? How demand and supply determine market equilibrium?
Demand and supply analysis.
Concepts: price elasticity of demand (supply); income elasticity of demand
How to calculate the (arc) elasticity of demand?
Relationship between price elasticity of demand and total revenue (total consumer expenditure), and marginal revenue.
Price ceilings and price floors.
Concepts: various definitions of costs and revenues, diminishing marginal returns, economies of scale
Distinguish between the short run and long run changes in a firmas production.
Profit-maximisation condition is MCMR.
Distinguish the main features of different market structures.
Compare and contrast perfect competition vs. monopoly, monopolistic competition etc.
Oligopoly and collusion.
Concepts: externalities, public goods, allocative efficiency, social efficiency
Causes of market failures
Instruments and policies of government intervention and their impact.
The above five chapters cover the materials on Microeconomics.