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Q. Who will participate and how decision will be made are issues concerned with Public Choice. Whether participants are guided by social concerns or they harbour their private
Suppose that economic outcomes can be classified as either good or bad. Governments differ in ability and this affects the likelihood of good outcomes. There are two types of gover
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externalities produced by a monopolist
Q. What do you understand by Policy Process? Begin from theoretical frame work of policy making and proceed breaking various assumptions and introducing heterogeneity of agents
Q. Relationship between individual preference and social choice? Social Choice is a very kindred area. Some people don't make any distinction between the two while others make.
Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
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