HSC ECONOMICS IMPORTANT QUESTIONS 2022
VERY IMP QUESTIONS ARE MARKED IN RED
CHAPTER 1
1. STUDY ALL OBJECTIVES
2. FEATURES OF MICRO AND MACRO ECONOMICS
3. EXPLAIN CONCEPT OF MICRO & MACRO ECONOMICS
OR
4. EXPLAIN SUBJECT MATTER OF MICRO AND MACRO ECONOMICS
5. DISTINGUISH BETWEEN MICRO & MACRO ECONOMICS
6. IMPORTANCE OF MICRO ECONOMICS
7. SLICING & LUMPING METHOD
8. WHAT IS PARTIAL EQUILIBRIUM
9. GIVE REASONS:
A. MICROECONOMICS IS KNOWN AS PRICE THEORY
B. THEORY OF MICROECONOMICS IS BASED ON CERTAIN ASSUMPTIONS
CHAPTER 2
A. STUDY ALL OBJECTIVES
1.EXPLAIN LAW OF DIMINISHING MARGINAL UTILITY
2. STATE IMPORTANCE OF LAW OF DIMINIDHING MARGINAL UTILITY
3. STATE ASSUMPTIONS & EXPECTATIONS TO THE LAW OF DIMINISHING MARGINAL UTILITY
4. DEFINE MARGINAL UTILITY
CHAPTER 3
A. STUDY ALL OBJECTIVES
1. LAW OF DEMAND WITH ITS ASSUMPTIONS
2. STATE DETERMINANTS OF AGGREGATE DEMAND
3. STATE DETERMINANTS OF AGGREGATE SUPPLY
4. LAW OF DEMAND WITH ITS EXCEPTIONS
5. WHAT IS AGGREGATE SUPPLY .
CHAPTER 4
A. STUDY ALL OBJECTIVES
1. WHAT IS ELASTICITY OF DEMAND
2. FACTORS DETERMINING ELASTICITY
3. UNITRY ELASTIC DEMAND
4. GIVE REASONS : DEMAND FOR COMMODITY HAVING MULTIPLE USES HAS ELASTIC DEMAND.
5. TYPES OF PRICE ELASTICITY OF DEMAND .
CHAPTER 5
1. STUDY ALL OBJECTIVES
2. FEATURES OF MONOPOLISTIC COMPETITION
3. FEATURES OF PERFECT COMPETITION
4. INDIVIDUAL & MARKET SUPPLY
5. TYPES OF MONOPOLY
6. GIVE REASONS :
A. PRICE IS THE ONLY DETERMINANT OF SUPPLY
B. THERE ARE NO EXCEPTIONS TO LAW OF SUPPLY
7. THERE IS NO DIFFERENCE BETWEEN STOCK & SUPPLY . AGREE OR DISAGREE.
8. SUPPLY OF PERISHABLE GOODS IS INELASTIC.GIVE REASON.
9. PERFECT COMPETITION MEANS PURE COMPETITION
10. AVERAGE REVENUE & COST DIFFERENCE.
CHAPTER 6
1. SIGNIFICANCE & FEATURES OF INDEX NUMBERS
2. STEPS INVOLVED IN CONSTRUCTION ON INDEX NUMBERS
3. DISTINGUISH BETWEEN PRICE & QUANTITY INDEX
4. SIMPLE & WEIGHTED INDEX NUMBERS
5. LAASPEYRES & PASCHE WEIGHTED INDEX
CHAPTER 7
1. DIFFERENCE BETWEEN GROSS & NET NATIONAL PRODUCT.
2. NATIONAL INCOME & VARIOUS METHOD OF MEASURING IT .
3. EXPLAIN OUTPUT METHOD OF MEASURING NATIONAL INCOME
4. EXPLAIN THEOROTICAL /CONCEPTUAL DIFFICULTIES IN MEASURING NATIONAL INCOME
5.DISTINGUISH BETWEEN OUTPUT & INCOME METHOD
6. GROSS & NET NATIONAL PRODUCT
7. TOTAL COST & REVENUE