1. Outline the features of perfectly competitive market structure

2. Define the term 'market equilibrium'

3. Outline the factors that may lead to the occurrence and persistence of a a market disequilibrium

4. Distinguish between the 'multiplier ' and the 'accelerator' as used in national income statistics73

5. Explain four factors that could limit the application of the multiplier in developing countries

6.Outline six challenges encounted by economic planners when estimating the national income in a developing country

7.Describe four policy measures that developing countries could adopt to reduce regional imbalances

8.Differentiate between nominal national output and 'real national output' figures in an economy

9.Define the term multiplier

10.Distinguish between transfer payments and transfer earnings