1. The fitting of mathematical trend curves is by far the easiest and cheapest method of forecasting long-run changes in product demand, and is likely to be just as reliable as any alternative method. ' Discuss.

2. 'Given that the future is unknown, the best we can do is to estimate the likelihood of future events and then use expected profit as the decision criterion.' Discuss.

3. Assess the contribution of business games to the study of decision-making processes, illustrating your answer by reference to one business game with which you are familiar.

4. Explain the determination of the optimal price and output combination in a situation of monopolistic competition. Use the resulting equilibrium to illustrate the statement that 'production inefficiency is a necessary price to pay for product variety'. Comment on this statement.

5. Critically assess the view that an understanding of the principles of 'scientific' decision-making is fundamental to the success of a modern economy.

6. . Critically assess the methods used to generate empirical estimates of both short- and long-run cost functions. Do the empirical difficulties encountered rob the resulting estimates of any general operational utility?

7. The market allocates resources to the firms that best meet the needs of consumers.' Discuss.

8. The force of competition, the desires of managers and the needs of shareholders combine to ensure that firms maximize profit.' Discuss.

9. How does the tools of microeconomics use to heal different economical phenomenon?

10. Explain an increase in the price causes the demand curve to shift on the left