Assignment:
1: Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making.
2: Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output.
3: Define and measure national income and rates of unemployment and inflation.
4: Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy.
5: Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank.
6: Construct the aggregate demand and aggregate supply model of the macro economy and use it to illustrate macroeconomic problems and potential monetary and fiscal policy solutions.
7: Explain the mechanics and institutions of international trade and their impact on the macro economy.
8: Define economic growth and identify sources of economic growth
Attachment:- Assignment.rar