General economics – final exam essay
Name:
1. What is Gross Domestic Product? What are the three approaches to its calculation? What is Gross
National Product?
2. Speak about imperfect competition. What are the traits of imperfect competition? what types of
imperfect competition do you know? Give examples.
3. Speak about supply, supply curve, law of supply. Give examples of how supply factors influence
movement of supply curve using graphs.
General economics – final exam essay
Name:
1. Speak about costs in the short run: fixed, variable and total costs and their curves. Give examples of
every type of costs. Speak about costs in the long run.
2. What is monetary policy? Speak about such tools of monetary policy as discount rate and required
reserves. Explain their mechanisms.
3. Speak about basic economic agents of market economy and describe the market mechanism. Use market
mechanism model.
General economics – final exam essay
Name:
1. What is fiscal policy? Speak about tools of fiscal policy: discretionary fiscal policy and automatic
stabilizers. Give examples and explain mechanisms.
2. Speak about demand, demand curve, law of demand. Give examples of how demand factors influence
movement of demand curve using graphs.
3. Speak about economic scarcity, production factors and opportunity costs. Give examples.
General economics – final exam essay
Name:
1. Speak about aggregate demand. Which factors influence aggregate demand? Explain what does
aggregate demand curve show us?
2. Speak about basic economic agents of market economy and describe the market mechanism. Use market
mechanism model.
3. What is Gross Domestic Product? What are the three approaches to its calculation? What is Gross
National Product?
General economics – final exam essay
Name:
1. Speak about price elasticity of demand and types of demand price elasticity. Give examples of specific
goods. Speak about price strategies.
2. Speak about imperfect competition. What are the traits of imperfect competition? What types of
imperfect competition do you know? Give examples.
3. Speak about aggregate supply. Which factors influence aggregate supply? Explain what does aggregate
supply curve show us? Speak about how different schools explained position of this curve.
General economics – final exam essay
Name:
1. Speak about command and market model of economy.
2. What is monetary policy? Speak about such tools of monetary policy as discount rate and required
reserves. Explain their mechanisms.
3. What is nominal and what is real is Gross Domestic Product? Explain the difference. How can we
calculate real GDP?