Economics Paper I Past Paper 2016
Proofs and diagrams run through the Economics Paper I past paper 2016. Q.2 proves that marginal revenue stays below price under imperfect competition. Q.3 shows, with a diagram, how a price rise creates income and substitution effects. Q.4 traces the inflation and unemployment link before and after the 1970s. Q.5 reviews the theories that link price and money supply. Q.6 traces how world economies built their international monetary systems. Q.7 reads Rostow’s stages of growth with Pakistan in view. Q.8 closes by asking for distinctions between paired concepts. This file holds the Part-II sheet only.
What this paper contains
- This file carries Part-II (the descriptive part) of the paper.
- Part-II — attempt any FOUR questions from Q.2–Q.8; each question carries 20 marks (Part-I holds the 20 MCQs, per the printed header)
Part-II questions
Q.2 — Explain and prove mathematically that marginal revenue is less than price in case of monopolistic market structure. (20)
Q.3 — Explain diagrammatically, how an increase in price generates income and substitution effect for a normal good? (20)
Q.4 — Explain the inflation and unemployment relationship for pre and post 70s market economy. (20)
Q.5 — Deliberate on the various theories developed to study the price and money supply relationship (20)
Q.6 — Discuss the evolution of international monetary systems adopted by the world economies. (20)
Q.7 — Discuss the Rostow’s stage of growth with special reference to Pakistan (20)
Q.8 — Differentiate between the following: (5 each) (20)
(a) Personal and disposable income
(b) Net domestic and gross domestic product
(c) Consumer price index and producer price index
(d) Multiplier and accelerator
Economics Paper I Past Paper 2017 · All Economics Past Papers · Economics Paper I Past Paper 2015