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CSS economics past papers questions by topic
Hello everyone!
I have arranged the past five year papers of CSS according to topics so that they are easier to get through and categorize. I found this very useful during my preparation for css 2019 so I hope it can help someone else as well. 1. Microeconomics a. Explain Arc and Cross elasticities and analyze their role in decision making by the consumers. Point out application of these theories; quote such examples and explain. (2018) 2. Macroeconomics a. How the concepts of notional aggregate demand (Keynesian) and real aggregate demand (neo-classical), leads to economic fluctuations in the economy. How equilibrium is established in the market under the above approaches? (2018) 3. Money and Banking a. State the bases of IS-LM framework (equations &establish equilibrium) and comment whether it is a short run or long run analysis. State bases for your answer. Do you think this approach is still applicable for policy formulation? (2018) 4. Public Financing a. Discuss major cannons of taxation and their relevance to tax system in Pakistan. Do you think that the tax system in Pakistan is based upon cannons of taxation (restrict your discussion to the application of cannons of taxation)? (2018) 5. International Trade a. What is Balance of Payment? Point out its major components. Analyze any one years’ BOP of Pakistan. (2018) 6. Economic Growth & Development a. Short note: Balanced and Un-balanced growth theory (2018) 7. Planning in Pakistan a. Critically evaluate the economic planning strategy of Pakistan. What policy measures would you suggest for sound economic planning? Discuss. (2017) 8. Agricultural and Industrial sector problems and development a. Agriculture’s share in GDP and employment in Pakistan has reduced over time. Express your views about this decline in the light of the experience of some developed countries in the world. (2018)9. Privatization, denationalization, deregulation a. Specifically describe the history of nationalization, denationalization and privatization in Pakistan. Why denationalization of the nationalized organizations became inevitable in Pakistan? (2018) 10. Interest free banking a. Has interest-free banking been successful in Pakistan? Highlight the weaknesses and strengths of interest-free banking in Pakistan. (2016)11. Energy policy a. Short note: Government Efforts to address Energy Crisis in Pakistan (2018) 12. Other Major issues in Pakistan economy a. What are the causes of over time worsened income distribution in Pakistan? Give some practicable options to overcome poverty and income inequalities in the country. (2018) |
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Great job!
i was looking for something like this as i'm unable to comprehend the scope of Microeconomics. Thank you! |
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I'm glad you found it useful!
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Q: Explain Arc and Cross elasticities and analyze their role in decision making by the consumers. Point out application of these theories; quote such examples and explain. (2018) A: -First explain what Arc and Cross elasticities are. Give their definition, formulae and explaining graph as well along with a simple example. -Then we are asked what role they play in a consumer's decision making. Put simply Arc Elasticity helps consumers decide on whether to buy a single product or not when a price should change (usually the change is rather large- doesnt matter whether positive or negative. When change is small point elasticity is preferred). Since Arc Elasticity measures the responsiveness of the demand with respect to price in between two points on the demand curve, it helps consumers decide whether the good is fairly elastic (i.e. change in price has drastic effects on demand) or inelastic (i.e change in price should have fairly little effect on demand). Also note that demand curves are not straight lines- they curve away from the origin. Hence arc elasticities can also help us understand another consumer tendancy; the less the price the more eleastic the good (i.e consumers are more willing to change their consumption pattern) and the higher the price the more inelastic (i.e the consumer is less willing to change their current demand pattern or maybe they can't afford it anymore at the high prices) Cross elasticities on the other hand help consumers decide on whether to buy a good in response to changes on related goods. E.g whether one should or should not shift to eating chicken when the prices of beef have risen and hence beef is comparatively more expensive? These kind of questions can be answered using cross elasticities which can not only tell you HOW a good is related (i.e whether it is a substitute, a complementary good or completely unrelated) but also tell you how elastic their demand and prices are to each other. It is an invaluable tool if used and understood correctly. -the last portion of the question asks you to note down the applications of these theories with examples. Now what we wrote in the second portion above is basically the application of these two type of elasticities from a consumer perspective. Very briefly restate these with exaples and explanations (draw graphs- economists LOVEEEE graphs). Then move on to its application on the producer side. You can find that on the internet easily. Cross elasticities help not only pricing policies but also business decisions. Here is a good article to help with this https://www.businesstopia.net/econom...ecision-making You can find similar articles for arc elasticities. -At the end simply write a conclusion which states that these two are important concepts in economics and are powerful tools if used and understood properly. I hope the above explanation helped. I tried not to ramble but I have a tendency to go off on tangents so feel free to ask if anything doesn't make sense. Best of luck!! |
The Following User Says Thank You to aishalam For This Useful Post: | ||
hafeez janu (Wednesday, April 15, 2020) |
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Can you point out the exact topic that comes under the heading of "partial and general equilibrium analysis (basic level) theory of firm" in the microeconomics section of the syllabus. and, how much did you score in economics?
__________________
"When you want to succeed as bad as you want to breathe,then you'll be successful." |
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Can you point out the exact topic that comes under the heading of "partial and general equilibrium analysis (basic level) theory of firm" in the microeconomics section of the syllabus. and, how much did you score in economics?
__________________
"When you want to succeed as bad as you want to breathe,then you'll be successful." |
#8
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Thank you so much for sharing this.
Also, can you suggest how to go about preparing this subject, the sources and books. |
#9
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Nice sharing i like this information this is very great topic.
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