ECON 1006 Final Exam,

Total Marks: 35 (5x7), Word Format Only,

Add Title Page and References,

Write Questions along with your answers.

1."Economics is scientific and useful for a common man." Ch.1

Comment and elaborate also give five examples each. (Scientific, Useful)

2.How has the fundamental role of Government changed significantly over the past decades to correct market imperfections and failures?

Give empirical evidence from Canadian economy relating it with the recent times. Ch.1

3.Most industries in the Canadian economy lie between the two extremes of Monopoly and Perfect Competition.

Give five examples of Imperfectly Competitive Industries and Firms in Canada.Ch. 10,11

4."Significant reductions in Global Greenhouse-Gas Emissions will not be achieved through a large number of small actions that are barely noticeable in our daily lives."

Instead, bold, significant, and Global policies are needed to correct the situation. Ch.17

5.Discuss the importance of Technological change and why firms are motivated to innovate for a firm's behavior in the long run.

Support your answer with the help of 3 real word examples. Ch.1,9,10 .