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 of a
diagram a firm’s
equilibrium condition in the short run, under perfect competition.
4) Price effect is the combination of income effect and substitution effect. Explain and
illustrate.
5) Compare monopoly with monopolistic competition. Explain with the help of 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
sector?
7) Explain the concept of elasticity of demand. Differentiate between (i) Income elasticity
of demand
(ii) Price elasticity of demand (iii) Cross elasticity of demand
8) Write notes on
a) Law of diminishing marginal utility.
b) Internal & External Economies
c) Laws of increasing & constant return to scale. CRASH CLASSES OF
d) Point & Arc elasticity of demand ACCOUNTING &
e) Change in quantity demanded and change in demand STATISTICS IN JUST 20
f) Price Discrimination DAYS
g) Marginal cost and Average cost

Macro Economics

1) Differentiate between (i) GNP & GDP (ii) National income at market price and
National
income at factor cost. (iii) Personal income & Disposable income
2) Explain Keynesian theory of income & employment
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
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 solved under
mixed economy and capitalism?
2) Give salient features of Islamic economic system and compare it with capitalism
and 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

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
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
E) WAGE INCENTIVE PLANS ACCOUNTING &
F) TRANSPORTATION STATISTICS IN JUST 20
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

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