1.Discuss how scarcity and opportunity cost influence decision-making in both households and governments. Provide real-world examples to illustrate your answer.
2. Evaluate the impact of inflation on income distribution and purchasing power. How can governments and central banks work together to control inflation without harming economic growth?
3. Analyze the relationship between economic growth and environmental sustainability. Can a country achieve both simultaneously? Support your argument with evidence or examples.
4. Explain how globalization affects employment patterns, wages, and income inequality in developing and developed nations.
5. Assess how technological advancement influences productivity and economic structures. What policies should governments implement to ensure equitable benefits from technological progress?