Q.No.1.The term 'Political Economy' was first coined by a French writer, 'MontChretien de Waterville', in 1615, when he used it to describe the science of wealth acquisition common to the State as well as the Family (Horvat, 1968). Politics and economics can be distinguished with reference to three characteristics, that is the primary goal being pursued (carried out), the institutional arenas within which the goal is pursued, and the primary actor who chooses the goal. Explain these three characteristics in the context of Pakistan with logical examples.