B.COM 1 GP

IQRA STUDY CENTRE: B.COM I

ECONOMICS – IMPORTANT QUESTIONS BY KHALID AZIZ Micro Economics 1) Distinguish between micro and macro approach to economic analysis and also discuss the need for  combining the two approaches. 2) How indifference curve technique helps a consumer to achieve equilibrium position? Discuss  properties of indifference curve. 3) Define perfect competition and explain its assumptions. Explain with help o f a diagram a firm’s equilibrium condition in the short run, under perfect competition. competition. 4) Price effect is the combination of inco me effect and substitution effect. Explain and illustrate. 5) Compare monopoly with monopolistic competition. Explain with the help o f diagrams, the short run equilibrium of a firm under monopolistic competition. 6) Explain law of diminishing returns to scale. Why this law is important for agricultural agricultural sector? 7) Explain the concept o f elasticity elasticity of demand. Differentiate between (i) ( i) Income elasticity of demand (ii) Price elasticity of demand (iii) ( iii) Cross elasticity elasticity of demand de mand 8) Write notes on a) Law of o f diminishing marginal utility.  b) Internal & External Economies CRASH CLASSES OF c) Laws of increasing & constant return to scale. ACCOUNTING & d) Point & Arc elasticity of demand STATISTICS IN JUST 20 e) Change in quantity demanded and change in demand DAYS f) Price Discrimi D iscrimination nation g) Marginal cost and Average cost

Macro Economics 1) Differentiate between (i) GNP & GDP (ii) National inco me at market price and  National income at factor cost. (iii) Personal income & Disposable income 2) Explain Keynesian theory of income & e mployment mployment 3) Define National Income, what is the importance of study of national income? 4) Distinguish between consumption and consumption function. Explain the factors which determine the propensity to consume. IQRA STUDY CENTRE R-1173, 3rd FLOOR, ALNOOR SOCIETY, BLOCK #19, F.B.AREA, NEAR POWER HOUSE, KARACHI. For I.com, B.com, MA-Economics, ICMAP, PIPFA, MBA, BBA and other commerce students

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IQRA STUDY CENTRE: B.COM I 5) Distinguish between APS and MPS. What are the factors that determine saving in an economy? 6) Short notes a) Autonomous and Induced Investment  b) Marginal efficiency of capital c) Multiplier  d) Acceleration e) Objectives of fiscal policy f) Objectives of monetary policy g) Phases of trade cycle h) Inflationary & Deflationary gaps

Economic Systems 1) What are the central problems of an Economy? How these problems s olved under  mixed economy and capitalism? 2) Give salient features of Islamic economic system and compare it with capitalism and socialism. socialism. 3) Explain the importance of zakat in the process of distribution of wealth in Islamic state. 4) Concept of wages in Islam.

CRASH CLASSES OF ACCOUNTING & STATISTICS IN JUST 20 DAYS

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IQRA STUDY CENTRE: B.COM I

INTRODUCTION TO BUSINESS – IMPORTANT QUESTIONS BY KHALID AZIZ 1) DISCUSS THE SCOPE AND OBJECTIVES OF BUSINESS. DEFINE BUSINESS AND DIFFERENTIATE IT FROM TRADE. 2) WHAT DO YOU MEAN BY BUSINESS PROBLEMS? LIST THE USUAL PROBLEMS OF BUSINESS. 3) WHAT ARE THE EFFECTS OF PRIVATIZATION OVER ECONOMY OF PAKISTAN? 4) DIFFERENTIATE BETWEEN CAPITALISM AND SOCIALISM. WHAT ECONOMIC SYSTEM HAS BEEN FOLLOWED IN PAKISTAN? WRITE A  NOTE ON MIXED ECONOMY. 5) NAME VARIOUS ENVIRONMENTS INFLUENCE BUSINESS ACTIVITIES.DISCUSS SOCIAL AND CULTURAL ENVIRONMENT. 6) WHAT IS PARTNERSHIP? DISCUSS PARTNERSHIP DEED. ALSO DISCUSS DISSOLUTION OF PARTNERSHIP.WHAT ARE DUTIES AND LIABILITIES OF A PARTNER? UNDER WHAT CIRCUMSTANCES IS THE SOLE PROPRIETORSHIP BUSIESS CONVERTED INTO PARTNERSHIP. 7) WHAT ARE VARIOUS TYPES OF BUSINESS OWNERSHIP? DIFFERENTIATE BETWEEN PUBLIC AND PRIVATE COMPANY. DEFINE A JOINT STOCK  COMPANY, ITS CHARACTERSTICS AND INCORPORATION PROCEDURE. 8) WHAT ROLE THE STOCK EXCHANGE PLAYS IN THE ECONOMY OF A COUNTRY. 9) BRIEFLY EXPLAIN THE CLASSIFICATION OF CAPITAL MARKET. 10) DEFINE INSURANCE, WHAT ARE VARIOUS TYPES OF INSUREANCE? LIST AND EXPLAIN BUSINESS RISK.IMPORTANCE OF INSURANCE. CHARACTERSTICS OF INSURABLE RISK. 11) SHORT NOTES A) QUALITIES OF A GOOD BUSINESS MAN B) INVENTORY CONTROL C) BUSINESS COMBINATIONS CRASH CLASSES OF D) PRODUCT LIFE CYCLE ACCOUNTING & E) WAGE INCENTIVE PLANS STATISTICS IN JUST 20 F) TRANSPORTATION G) SELECTION PROCEDURE OF STAFF DAYS H) SALES PROMOTION I) SERVICES OF A WHOLE SELLER  J) TARIFF AND ITS TYPES K) MARKETING (DEFINITION AND IMPORTANCE) L) ADVERTISING