Economics Paper II Past Paper 2023

Green revolution and trade anchor the Economics Paper II past paper 2023. Q.2 defines the green revolution and asks why it drove growth more than development. Q.3 separates growth from development. Q.4 separates appreciation from depreciation of currency and traces each into trade. Q.5 links unemployment and inflation through the Philips curve. Q.6 separates absolute advantage from comparative advantage. Q.7 shows how comparative advantage grounds trade between two nations. Q.8 closes with short notes on two listed topics. 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 — What is green revolution? How would you explain that it proved an engine of growth rather than development? (20)

Q.3 — Explain the difference between growth and development. (20)

Q.4 — Differentiate between appreciation and depreciation of currency and how it affect trade/economy. (20)

Q.5 — Explain the relationship between unemployment and inflation through Philips curve. (20)

Q.6 — Differentiate between Absolute advantage and comparative advantage. (20)

Q.7 — How comparative advantage becomes the basis of international trade between the two nations. (20)

Q.8 — Write short notes on any TWO of the following: (10 each) (20)
(i) Globalization and economic growth and development.
(ii) Social media and its merits and demerits on Pakistan society and economy.
(iii) Factor of productions and two sectors flow diagram of economy.

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