Page No 96: Question 1: Differentiate between balance of trade and current account balance. Answer: Points of difference Balance of trade Current account balance Definition …
Page No 74: Question 1: Explain why public goods must be provided by the government. Answer: A good that is non-rival and non-excludable is referred …
Page No 59: Question 1: What is marginal propensity to consume? How is it related to marginal propensity to save? Answer: Marginal propensity to consume …
Page No 46: Question 1: What is a barter system? What are its drawbacks? Answer: Barter system is a system that was used in ancient …
Page No 30: Question 1: What are the four factors of production and what are the remunerations to each of these called? Answer: The four …
Page No 7: Question 1: What is the difference between microeconomics and macroeconomics? Answer: Points of Difference Microeconomics Macroeconomics 1. Definition It is a branch …
Page No 99: Question 1: What would be the shape of the demand curve so that the total revenue curve is (a) a positively sloped …
Page No 84: Question 1: Explain market equilibrium. Answer: Market equilibrium is defined as the state of rest that is determined by the rational objectives …
