1 A fuel shortage slows India’s economic growth India has struggled to provide enough electricity to power its industry.

Source: Adapted from The New York Times

(a)                    Define economic growth and identify two reasons for India’s decreasing economic growth.

(b)                    Analyse whether the increase in electricity-generating capacity in 2012 overcame the problems reported by businesses.

(c)                    Consider whether the above evidence about Coal India conflicts with the economic analysis of a monopoly.

(d)                    Use evidence from the information given to analyse whether the government policy towards Coal India

has been only disadvantageous to businesses and to economic growth in India.

©Al Tareeqah Management Studies – 2018

2            International conferences have been held to discuss the effects of global warming and to persuade governments to agree to improve efficiency in the use of resources by limiting the amount of harmful gases produced by their country.

Explain what is meant by an efficient use of resources and discuss whether efficiency can only be achieved if governments are involved.

3                        With a perfect market and a given income, economic analysis explains how a rational consumer decides the quantities of which products to demand. It cannot, though, explain what happens when incomes change or when businesses in imperfect markets manipulate prices. Discuss whether you agree with this opinion about the economic analysis of consumer behaviour.

4            (a) Explain why manufacturers differentiate their products and describe the characteristics of two

market structures where product differentiation occurs.

(b)  Analyse and consider the extent of the link between marginal cost, diminishing returns and economies of scale.

5                        In 2013, a new aircraft, the Boeing 787 Dreamliner, was assembled in the United States (US). United Airlines, an American private company, ordered 50 of these aircraft, each costing over US$200 million.

(a)     Imagine that the US was a closed economy with no government intervention. Analyse why the increase in national income from this investment in new aircraft might be different than if it were an open, mixed economy.

(b)    Discuss the policies that a government might use to influence the level of investment in an economy.

6.                       (a) A firm in a perfectly competitive market and a firm with a monopoly both seek to maximise theirprofit. Explain, with the help of a diagram, why the levels of price and output might be different in the two markets.

(b) Discuss whether it is always true that a firm, rather than maximising its profits while remainingsmall, will seek to grow in size.

7.                       Lack of consumer spending causes recessions. Recessions do not improve a country’s standard of living. It is always better, therefore, to encourage consumer spending for this improves a country’s standard of living.’

a. What is a recession and is it always caused by a lack of consumer spending?

b. Discuss what policies a government may use to try and end a recession.

©Al Tareeqah Management Studies – 2018

8.               Zambia bears the brunt of China’s economic slowdown Fig. 1: Zambian kwacha and copper price

Zambia was one of Africa’s main beneficiaries when China’s economy was expanding. With copper its key export, China’s huge demand for minerals helped the southern African nation enjoy a decade of economic boom. But as

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