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National Institute of Business Management
Chennai - 020
EMBA/ MBA
Principles of Economics
Attend any 4 questions. Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)
Question. 1. How economics work and discuss the relations
Answer: International economics is concerned with the effects upon economic activity from
international differences in productive resources and consumer preferences and the international
institutions that affect them. It seeks to explain the patterns and consequences of transactionsand
interactions between the inhabitants of different countries, including trade, investment and
migration.
 International trade studies goods-and-services
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