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ECO 0 POC Guess Paper 1st Year

The document outlines important questions in Economics, divided into Micro and Macro Economics, covering key concepts, laws, and definitions. It also includes questions related to Principles of Commerce, focusing on business structures, finance, and trade. The content emphasizes differences between economic terms and principles, as well as practical applications in business contexts.

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42 views2 pages

ECO 0 POC Guess Paper 1st Year

The document outlines important questions in Economics, divided into Micro and Macro Economics, covering key concepts, laws, and definitions. It also includes questions related to Principles of Commerce, focusing on business structures, finance, and trade. The content emphasizes differences between economic terms and principles, as well as practical applications in business contexts.

Uploaded by

junaidenterprises110
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Important Questions of Economics

Micro Economics:
Short Answer:
• Write five differences between micro and macro economics.
• Differentiate Marshal’s and Robbin’s point of view of economics.
• Write the difference between change in demand and change in quantity
demand.
• State the following laws with illustration and graph also write the 3
assumptions and 3 exceptions of each law.
• Law of Demand
• Law of Supply
• Law of Diminishing marginal utility
• Law of Equi-Marginal utility.
• Law of increasing and decreasing return.
• Differentiate between fixed and variable cost.
• Define Production and factors of production also discuss the importance of
factors of production.
• Define large scale and write its advantages.
• Write the 5 characteristics of Monopoly and Perfect competition.
• Describe relationship between total revenue, average revenue and marginal
revenue in perfect competition.
• Define Internal and External economies.
Long Answers:
• Law of Diminishing and Equi Marginal Utility.
• Law of Demand and Supply with Schedule and Diagram
• Law of Increasing return
• Condition of Short Run Equilibrium under perfect competition

Macro Economics:
• Describe different phases of business cycle.
• Define the concept of National Income (NI), Gross Domestic Product (GDP)
Net National Product (NNP) , Personal Income (PI) and Personal Disposable
Income (PDI).
• Differentiate between Public and Private Finance.
• Distinguish between balance of payment and balance of trade. What are
the causes of unfavorable balance of payment?
• Define the term money, its functions and characteristics of good money.
• Define local and international trade and write the advantages if
international trade.
• Write the difference between Zakat and Tax.
• What is barter system? Write the difficulties of barter system. How did
money remove the problems of barter system?
• Write the difficulties of measuring National Income.
• Describe each method of measurement of National Income.
Long Answers:
• Define National Income and It’s various concept
• Various method to measure National income.
• Advantage and Disadvantage of International business.
• Phases of Business Cycle

Important Questions of Principles of Commerce


• Write four differences between memorandum of association and article of
association. Also list its clauses.
• Difference between short term and long term finance.
• Difference between Mudarba and Musharka.
• Enlist different types of business letter and describe inquiry and complaint
letter.
• What is Joint Stock Company? What is the procedure of incorporation of
Joint Stock Company? Write its four advantages.
• What are the different means of transportation in Pakistan? Explain any
two.
• Explain the qualities of a good businessman.
• What is partnership? Write the kinds of partners.
• Describe the procedure of export trade and list the documents used for
exporting.
• What are the essentials of starting a new business?
• Define Retailing and its types.
• What is insurance? State the different type of insurance.
• Write the services of wholesalers and retailers.
• Differentiate between domestic and foreign trade.
• Differentiate between advertising and publicity.
• Define Marketing and its functions.
• Describe the qualities of a good business letter.
• What is Sole Proprietorship? Write its five advantages.
• Describe the conditions of dissolution of partnership.
• State the channels of distribution.

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