Holiday home 12 Eco
Holiday Homework Grade – 12 (Economics)
Do the Following questions in the Notebook .
Draw graphs with pencil on graph paper and paste them in the Notebook.
Micro Economics
1. Distinguish between movement along the demand curve and shift in demand curve.
2. Distinguish between movement along the supply curve and shift in supply curve.
3. Distinguish between PED and YED of firms in manufacturing and primary sector.
4. Define price control. Distinguish between minimum price (price floor) and maximum price (price ceiling) as means of government intervention.
5. Explain how negative externalities cause market failure.
6. Explain how positive externalities cause market failure.
7. Both merit goods and public goods cause market failure, comment.
8. Evaluate the measures taken by the government to correct market failure caused by negative externalities.
9. Evaluate the measures taken by the government to correct market failure caused by positive externalities.
Macro Economics
1. Evaluate GDP as a measure of welfare of an economy.
2. Discuss how wealth affect, interest rate affect and international trade affect may cause both movement along the aggregate demand curve and a shift in aggregate demand curve.
3. Distinguish between long run and short run aggregate supply curve as per neo classical perspective.
4. According to Keynesian perspective, economy may remain stuck in a deflationary gap for indefinite period of time, comment.
5. Explain factors that cause shift in aggregate supply.
6. Define inflation. Distinguish between demand pull inflation and cost push inflation.
7. Distinguish between expansionary fiscal policy and expansionary monetary policy.
8. Distinguish between contractionary fiscal policy and contractionary monetary policy.
9. Market oriented supply side policies are better than interventionist supply side polices to boost economic
Do the Following questions in the Notebook .
Draw graphs with pencil on graph paper and paste them in the Notebook.
Micro Economics
1. Distinguish between movement along the demand curve and shift in demand curve.
2. Distinguish between movement along the supply curve and shift in supply curve.
3. Distinguish between PED and YED of firms in manufacturing and primary sector.
4. Define price control. Distinguish between minimum price (price floor) and maximum price (price ceiling) as means of government intervention.
5. Explain how negative externalities cause market failure.
6. Explain how positive externalities cause market failure.
7. Both merit goods and public goods cause market failure, comment.
8. Evaluate the measures taken by the government to correct market failure caused by negative externalities.
9. Evaluate the measures taken by the government to correct market failure caused by positive externalities.
Macro Economics
1. Evaluate GDP as a measure of welfare of an economy.
2. Discuss how wealth affect, interest rate affect and international trade affect may cause both movement along the aggregate demand curve and a shift in aggregate demand curve.
3. Distinguish between long run and short run aggregate supply curve as per neo classical perspective.
4. According to Keynesian perspective, economy may remain stuck in a deflationary gap for indefinite period of time, comment.
5. Explain factors that cause shift in aggregate supply.
6. Define inflation. Distinguish between demand pull inflation and cost push inflation.
7. Distinguish between expansionary fiscal policy and expansionary monetary policy.
8. Distinguish between contractionary fiscal policy and contractionary monetary policy.
9. Market oriented supply side policies are better than interventionist supply side polices to boost economic