Economics

Economics
Course Learning Outcomes:
-Describe the terminology of macroeconomics including GDP, GNP, national income, business cycles,
monetary policy, fiscal policy, inflation, unemployment
-Apply the concepts of choice and opportunity cost to basic situations involving scarcity and choice.
-Analyse and distinguish the concept of aggregate demand, aggregate supply and macroeconomic
equilibrium
-Discuss and describe the concepts, tools, and implementation of monetary and fiscal policies.
-Comprehend the relevance and importance of circular flow of the economy

Q.1 =   Using the data below:

A= Find out the Quantity demanded by the second and third consumers, and the market demand
B= Draw the Demand Curve for each Buyers and the market demand

P    QD1    QD2    QD3    QDM
5    60
10    50
15    40
20    30
25    20
30    10
35    5

Q.2 =   Using the data below:

A= Find out the Quantity produced by the second and third producer, and the marketsupply

B= Draw the Supply Curve for each producer and the market supply.

P    QS1    QS2    QS3    QSM
5    5
10    10
15    20
20    30
25    40
30    50
35    60

Q.3 = Using the data from Q.1 & Q.2 above:

Draw the market demand and the market supply curves and show the equilibrium between
the demand and supply .
Q. 4 = Show with the help of diagrams the effects of the changes either in demand or in supply

on the market equilibrium ,MENTION THE REASONS AND THE RESULT:

1) – A change in demand and supply moves in the same direction (increases OR decreases)

2) – A change in demand and supply moves in the opposite direction
(Increases&Decreases)

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