A2 ECONOMICS: Guess Paper-4

[mariam_anwar]

g bilkul you will have to describe taxes, subsidies, interest rate policies etc which are the tools of fiscal and monetary policy.

yes I did that

 

[mariam_anwar]

yes

thankyou Yayee I did both ... Sir Please pray still tensed for the paper ...

 

[mariam_anwar]

ForWage differntial we should write about these things too ...
- Due To efficient wage theory
- increase in human capital as a result productivity and output gets increased
- People have same qualification and job but experience differs
-discirmination in the market due to color .. caste .. religion
-gender bias
-imposition of govt labour market
-rural urban differences
- elasticity of demand oand supply of labour like surgeons are often paid more than shop assistant as surgeons have inelastic demand and supply
- market imperfections
- employees having good terms with the employer
- dangerous jobs are often paid more eg working in coalmine also known as compensation wage
- labour is heterogeneous not homogeneous .. every worker has different capabilities
-ucertain working hours like doctors can be called urgently for emergency purposes

Will can explain these points with some diagrams ... of inelastic/elastic ... discrimination ..... Is this right ??

 

[Qamar Baloch]

its right. you hve done a good job

 

[Qamar Baloch]

L

thankyou Yayee I did both ... Sir Please pray still tensed for the paper ...

A
Allah bless you dear. Don't be tensed keep up your effort for remaining papers.

 

[mariam_anwar]

Hoping fora good grade ...

 

[anandita]

what were the two policies in section A no. 1c? also i know this is easy but what are the reasons gdp is a bad economic indicator?

 

[WaleedUQ]

ForWage differntial we should write about these things too ...
- Due To efficient wage theory
- increase in human capital as a result productivity and output gets increased
- People have same qualification and job but experience differs
-discirmination in the market due to color .. caste .. religion
-gender bias
-imposition of govt labour market
-rural urban differences
- elasticity of demand oand supply of labour like surgeons are often paid more than shop assistant as surgeons have inelastic demand and supply
- market imperfections
- employees having good terms with the employer
- dangerous jobs are often paid more eg working in coalmine also known as compensation wage
- labour is heterogeneous not homogeneous .. every worker has different capabilities
-ucertain working hours like doctors can be called urgently for emergency purposes

Will can explain these points with some diagrams ... of inelastic/elastic ... discrimination ..... Is this right ??

THIS IS WHAT I HAVE WRITTEN ! :\
EVERYTHING
except labour market imperfections

 

[mariam_anwar]

THIS IS WHAT I HAVE WRITTEN ! :\
EVERYTHING
except labour market imperfections

Np .. itna sb tou likhaa na

 

[WaleedUQ]

Np .. itna sb tou likhaa na

You have just give a detailed explanation of ur ans..
i didnt i mean like
discrimination
segmented labour market
human capital
and etc... if i extract these tou ur points and examples match mine

 

[mariam_anwar]

what were the two policies in section A no. 1c? also i know this is easy but what are the reasons gdp is a bad economic indicator?

I wrote on moteory and fiscal ...

 

[mariam_anwar]

I wrote on moteory and fiscal ...

For bad gdp indicator i wrote about hidden economies .. GDP Per head calculates changes in pop whereas Gdp alone is not a good indicator ... It ignores productive services like child rearing ... Low levels of literacy make collection of inaccurate information ...Gdp calculates Material standard of living not quality of life will give e.g like if negative externalities are arising, long working hours, crime rates are rising .. monetory value of GDP is rising but actually economic growth is declining ... etc etc .........
We will also give advantages too like measuring of sol .. making international comparison possible etc ....

 

[mariam_anwar]

You have just give a detailed explanation of ur ans..
i didnt i mean like
discrimination
segmented labour market
human capital
and etc... if i extract these tou ur points and examples match mine

Hmmm Gud

 

[salmankhan00]

Nice. Try to do the same in P3 as well. Allah bless you.

Thank you Sir & InshaAllah I vl try my best

 

[AGEG]

oh,as for the other question,I did the efficiency question.In that I explained economic effiiciency with allocative and productive efficeincy with diagrams.Showed a perfect market structure and imperfect structure and explained that efficiency may achieved with the profit motive to keep costs low but in the long run may lead to inefficiency because of monopoly or oligopoly strucutre.Again drew the diagram and showed the ineffiiciency. Stated that govt intervention could increase costs of firms by minimum wage rate so efficeny may be difficult to achieve.Explained the contrast between and public and private sector with market failure as an example.Drew negative externality to show over production and ended saying govt intervention is needed as consumers may be exploited.I hope Ill get more here sir?

Sir, for that question I took a slightly different approach, I explained both Productive and Allocative efficiencies with graphs and explained when they may be achieved. I then explained the possible reasons for inefficiency, such as abuse of monopoly power, excessive barriers to entry (large firms), lack of certain goods (merit and public) with graphs. Then explained possible government interventions; subsidies, legislation & regulation of competition and monopolies etc. and direct provision of goods and the disadvantages and benefits of each. How much would that get?

 

[MnMz]

hychristine: how's eco p3 so far??

 

[mushfiqur]

Sir as i have requested before...

Can i have some useful short notes upon theories and calculations that will facilitate while
attempting the theory based or calculation based MCQs?

I m still unable to do most of the calculation related MCqs at first go..!

please do help!

 

[anandita]

For bad gdp indicator i wrote about hidden economies .. GDP Per head calculates changes in pop whereas Gdp alone is not a good indicator ... It ignores productive services like child rearing ... Low levels of literacy make collection of inaccurate information ...Gdp calculates Material standard of living not quality of life will give e.g like if negative externalities are arising, long working hours, crime rates are rising .. monetory value of GDP is rising but actually economic growth is declining ... etc etc .........
We will also give advantages too like measuring of sol .. making international comparison possible etc ....

thank you.. but i didnt mention the advantages because it said assess and also i mentioned about black economy, double counting for output and purchasing power parity but didnt mention pollution and crime rates.. will i lose a lot of marks?

 

[AGEG]

thank you.. but i didnt mention the advantages because it said assess and also i mentioned about black economy, double counting for output and purchasing power parity but didnt mention pollution and crime rates.. will i lose a lot of marks?

I mentioned that it was not per capita and so did not necessarily reflect average incomes, I also said it was not real GDP and so did not take into account inflation and that the higher GDP could simply have been that the value of goods produced is inflated rather than an actually higher output as well as the fact that other factors should be considered too.

 

[Paradoxical]

Does anyone have economics paper 3 for M/J 2005 and O/N 2005? If yes, could you please upload it?