ASIF FAROOQ AF ECONOMICS | asif.farooq.paf@gmail.
com | +92 321 2915945
Directions: Circle Micro or Macro. For Macroeconomic situations, label
the two axes as “Capital” and “Consumer” goods and services.
For Microeconomic situations, use the two trade-offs.
f. Although Americans have
a. Following a period of high
been at full -employment for
unemployment, the U. S.
almost a decade, our savings
enters the fighting of World
rate has dropped from 6% to
War II. (Micro or Macro?)
0%. (Micro or Macro?)
b. Following a period of g . Following a period of full
fullemployment, the U. S. - employment of their
accelerated the war in resources, Ethiopia
Vietnam and the War on experienced drought and
Poverty. (Micro or Macro?) over farming of the land.
(Micro or Macro?)
c. Following a period of h . Following a period of
discrimination against women mild recession, new
and minorities, the U.S. developments in computer
legally ended such technology caused many
discrimination in the work businesses to invest in new
place. (Micro or Macro?) computer systems. (Micro or
Macro?)
d. Following a period that i . Following a period of full -
allowed lumber companies employment, credit card
to log in publicly-owned companies like MasterCard
land, a law was passed to extended lots of easy credit
protect the spotted owl’s to American buyers. (Micro
habitat that ended logging in or Macro?)
the area. (Micro or Macro?)
e. Before the Gulf War, Iraq j. Following a deep
was a full-employment of recession, the U.S.
their resources, but during government began an
the war many of their expansion of the inter - state
facilities were bombed and highway system. (Micro or
people were killed. (Micro Macro?)
or Macro?)
Workshop conducted by AF Economics | Under supervision of Sir Asif Farooq | at Heuser PECHS | April 27th - 28th 2024
ASIF FAROOQ AF ECONOMICS | [email protected] | +92 321 2915945
k . The Big Blue Computer
Co. is able to produce either
main - frame or personal
computers. A new technique
allows them to produce
personal computers more
efficiently. (Micro or Macro?)
l . Exxon USA in Baytown can
produce gasoline or heating
oil. As a result of a very cold
winter, Exxon increases its
production of heating oil.
They were operating at full
capacity. (Micro or Macro?)
m . You can use your time
after graduation to either
work or go to college. You
need a new car so you
decide to work more and
take just a class or two this
next year. You will fully use
your time. (Micro or Macro?)
Workshop conducted by AF Economics | Under supervision of Sir Asif Farooq | at Heuser PECHS | April 27th - 28th 2024
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
Many changes are affecting the market for oil. Predict how each of the following events will affect the equilibrium price and quantity in the
market for oil. In each case, state how the event will affect the supply and demand diagram. Create a sketch of the diagram and explain
the reasons of changes in market price and output.
&
a Cars are becoming more fuel efficient, and therefore get more miles to the gallon.
b The winter is exceptionally cold.
c A major discovery of new oil is made off the coast of Norway.
d The economies of some major oil-using nations, like Japan, slow down.
e A war in the Middle East disrupts oil-pumping schedules.
f Landlords install additional insulation in buildings.
g The price of solar energy falls dramatically.
h Chemical companies invent a new, popular kind of plastic made from oil.
Draw a demand and supply diagram to show The effect on market price's output
1. Govt. Imposed indirect tax on production of cigarettes to reduce its Consumption and production. (Market of
Cigarette)
2. Govt. Provided subsidies to producers of essential medicines at the same time its demand increased.
3. A new research reveled that coffee helps to control weight and reduces the risk of heart attack at the same time
bad weather destroyed the crops in major coffee producing countries.
With the help of diagrams show the effects of increase in cost of producing tomato’s on the income of farmers.
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
Show the effect on consumer a producer Show the effect on consumer a producer
surplus after imposition of tax on a product surplus after imposition of tax on a product
with price inelastic demand.. with price elastic demand.
$ $:
Price Price
O O
Output Output
Show the effect on consumer a Show the effect on consumer a
producer surplus after imposition of tax producer surplus after imposition of
on a product with price inelastic tax on a product with price elastic
demand and Inelastic Supply. demand and elastic supply.
$ $
Price Price
O O
Output Output
Observation:
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
Maximum and Minimum price
Draw a diagram to show the effect of Maximum price on
$
Price
O Output
Consumer surplus before the maximum price
After the maximum price
Loss of consumer surplus
Black market price
Producer surplus after maximum price
Area of dead weight loss.
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
Maximum and Minimum price
Draw a diagram to show the effect of Minimum price on
$
Price
O Output
Consumer surplus before the minimum price
After the minimum price
Loss of consumer surplus
Black market price
Producer surplus after minimum price
Area of dead weight loss.
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
AS ECONOMICS
Micro Diagrams
2024 Workshop Diagrams
