Economics 6
Exam Material
Important questions, short notes and revision material for Economics 6 — all in one place, ready before your exam.
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What is public expenditure? explain its types.
Meaning: Public expenditure refers to the spending made by the government or public authorities to provide…
Briefly explain the classification of Tax.
Introduction: Taxes are levied by the government on the basis of three major classes of tax…
Explain the effects tax on production and distribution.
Introduction: Taxes can have significant effects on the distribution of income and wealth within an economy.…
Explain the impact, incidence and shifting of tax.
Impact of taxation: Taxation on goods, income or wealth influencing economic behavior and the distribution of…
Explain the merits and demerits of indirect tax.
Meaning: Indirect tax is a type of tax that is imposed on goods and services than…
ECONOMICS-6 MACRO ECONOMICS
IMPORTANT QUESTIONS; TEN MARKS QUESTIONS SIX MARKS QUESTIONS
Explain the merits and demerits of Direct tax.
Introduction: Taxes are compulsory payment to the government without expectation of definite return or benefits to…
Explain the Keynes savings and investment theory.
Introduction: Saving function is the counter part of consumption function because S=Y-C. Therefore S=f(Y). Saving means…
Explain the liquidity preference theory of interest?
Introduction: J.M Keynes created the theory of liquidity preference theory of interest to explain the role…
Explain Keynesian psychological law of consumption.
Introduction: The Keynesian concept of consumption function stems from the fundamental psychological law of consumption which…
Explain the classical theory of employment.
Introduction: The classical economist believed in the existence of full employment in the economy. To them…
Explain the importance of estimation of national income.
Introduction: The estimation of national income refers to the process of calculating the total economic output…