Question 1:
Discuss and describe how CPI is employed to calculate inflation and what are the limitations of such a measure?
Question 2:
Growth is always beneficial and advantageous. Discuss
Question 3:
Explain and describe the significance of both demand and supply factors in affecting the growth of GDP
Question 4:
Discuss and explain the assumptions of perfectly competitive market.
Question 5:
Analyse and discuss the effects on the firm’s profit and output of an raise in demand in the short run and long run.
Question 6:
Discuss and describe the various kinds of economies of scale and discuss whether they always enhance the welfare of consumers.
Question 7:
Discuss and describe the different kinds of price discrimination that a monopolist may use and what are the required preconditions for its application?
Question 8:
What determines the price elasticity of demand?