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Final Assessment - Introduction To Economics - 05082021

This document contains instructions and questions for a BS Economics exam at the University of Azad Jammu and Kashmir. It provides 5 questions to choose from, each worth 25 marks. Question 1 defines economics and differentiates microeconomics and macroeconomics, then asks to explain concepts related to consumer behavior, utility, national income, gross national product, and gross domestic product. Question 2 asks about the law of demand, law of supply, and situations where these laws may be violated. Question 3 defines unemployment, its types and causes, and strategies to address it. It also asks about the relationship between inflation and unemployment. Good luck is wished to the examinee.

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53 views

Final Assessment - Introduction To Economics - 05082021

This document contains instructions and questions for a BS Economics exam at the University of Azad Jammu and Kashmir. It provides 5 questions to choose from, each worth 25 marks. Question 1 defines economics and differentiates microeconomics and macroeconomics, then asks to explain concepts related to consumer behavior, utility, national income, gross national product, and gross domestic product. Question 2 asks about the law of demand, law of supply, and situations where these laws may be violated. Question 3 defines unemployment, its types and causes, and strategies to address it. It also asks about the relationship between inflation and unemployment. Good luck is wished to the examinee.

Uploaded by

Tabish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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UNIVERSITY OF AZAD JAMM AND KASHMIR

KING ABDULLAH CAMPUS, MUZAFARABAD

Reg. No: Terminal Examination Spring, 2021 Date: 5th, August, 2021
_______________
Department: KIE-UAJK-MZD Program: BS (International Relations) Semester & Session: 2nd, 2020-2024
Course Code & Name: Introduction to Economics Duration: 09:00 -04:00
Instructor’s Name: Mr. Shakeel Shahzad Total Marks: 75 Marks

Important Instructions:
Read all questions carefully first and then ask for the questions. Question paper related queries will not be
entertained after 60 minutes in Midterm Assessment after the start of paper. You can submit your paper
through email [email protected] / WhatsApp # 0314-918 5000. Do not write anything extra
on question paper unless until specifically asked for.

Note: You are instructed to follow all rules and regulations / policies designed for spring semester, 2021.
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Attempt any three (3) questions:

Q1: (A) What is economics? Differentiate between Microeconomics and Macroeconomics? What are the
objectives of macroeconomics and What Macro economist do?
(B) Elaborate briefly the following concepts (1-5ines explanation):
1. Consumer Behavior
2. Utility and types of utility
3. National Income (NI)
4. Gross National Product (GNP)
5. Gross Domestic Product (GDP)
(25 Marks)
Q2: What is law of demand and law of supply, briefly explain assumption and situation in which law of
demand and law of supply is violated with examples.
(25 Marks)
Q3: Define Unemployment, Kinds of unemployment, Causes of Unemployment, and problems cause by
unemployment, what are the strategies to tackle it, explain the relationship between inflation and
unemployment? (25 Marks)

Q4: What is money, types of money & forms of money? Describe Islamic banking system? Write a brief
note on Public finance and taxation sources of public revenue? (25 Marks)
Q5: What do you know about international trade, elaborate the macroeconomics problems in context of
International trade i.e. Inflation, Unemployment & Productivity? What has caused the explosion of world
trade? Define the term Globalization? (25Marks)

***Good Luck***

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