need an answer please as soon as possible.

MAZOON COLLEGE

Assignment

Course Code	Course Name	Assignment given on
ECO 121	Principles of Economics	18th February
Date of Submission	Instructor Name	Semester
18th March 2018	Dr.Zaheer	Spring 2018
Student ID	Student Name	Major

Evaluation Summary

Questions	Max. Marks	Marks Obtained	Comments
01	04
02	04
03	04
04	04
05	04
Total Marks(in figures)		(Marks out of 10) /10
Total Marks(in words)
Evaluator’s Signature

Remark: Students are advised to read all instructions before writing the assignment.

(Use this page as cover page of assignment)

Learning outcomes to be covered by this assignment:

1. Develop the analytical skills applicable to understand behavior of firms.

2. Understand the behavior of market pricing, production and market structures.

3. Developed abilities in decision-making based on careful observation on the economic theories.

4. Helps to develop and use economic models based on the micro economic decisions.

Scope of the Assignment

This assignments aims at develop independent learning skills in students. Students are expected to complete the assignment individually and show the extra working by using online /library resources to complete the assignment.

Plagiarism Policy [Ref: Assessment Policy Ref: MC/ASSP/v1]

Plagiarism includes, and not limited to, submitting a report/presentation/ dissertation/ term paper/research paper or any other work to be graded which includes the production of other author(s) without properly acknowledging the original author(s) of the work, or use the work of other person (paid or un paid) and submitting it to be its own work to claim grades or any other credit. The college is using a text matching detection software, text similarity above 20% is not acceptable and deemed plagiarism.

Please check with your course instructor for further orientation and information about plagiarism practice avoidance.

Submission Instructions (faculty can add/remove the instructions as per the requirement)

· Use A4 size paper, Times New Roman 12 font size with single line spacing in text.

· Use first page of assignment as cover page to submit your work

· Submit soft copy of assignment through college portal and hard copy as per instructions of the course instructor.

· Late submission is subjected to maximum deduction of 01mark per delayed day

· Plagiarized work shall not be considered to award any marks

· Similarity ratio more than 20% marks as 0.

Assignment Task

Questions: (4 marks each)

1. Discuss the scope of economics and describe the various methods of economics.

2. Analyze and compare the different points on, above and below the Production Possibility Frontier. With the help of graphs.

3. Plot the Demand, Supply and Show the Equilibrium.

4. Plot the shift in Demand and Supply on the Graph

5. Calculate the Elasticity of Demand by using Midpoint Formula

Price (P)	Quantity	Elasticity	Total Revenue	Total Revenue Test
	Demanded (Q)	Coefficient of	TR(P×Q)	Elastic, Inelastic or
		Demand (Ed)		Unit elastic
1	6
2	5
3	4
4	3
5	2
6	1
Price (P)	Quantity	Elasticity	Total Revenue	Total Revenue Test
	Demanded (Q)	Coefficient of	TR(P×Q)	Elastic, Inelastic or
		Demand (Ed)		Unit elastic
2	25
4	22
6	18
8	12
10	8
12	5

Page 1 of 4