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Important Questions for "Microeconomic":

[1]

  1. India is facing the problem of:
  2. Which is the indicator of economic growth?
  3. According to the Phillips curve, in case of inflation is high, unemployment will be:

[2]

  1. Explain the essential differences between macroeconomic and microeconomic approaches and their significance for economic theory.
  2. What do you understand by issues of dumping?
  3. Explain the law of diminishing marginal utility. Does it apply to money?

[3]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. What is meant by Price Mechanism?
  3. Explain briefly the functions of WTO.

[4]

  1. What do you understand by microeconomics?
  2. Illustrate the minimum support price policy using demand and supply curves.
  3. Explain the differences between gross domestic product at factor cost and net domestic product at factor cost.

[5]

  1. Which is not an exception to the law of diminishing marginal utility?
  2. Explain the price ceiling policy with diagrams.
  3. What is balance of payment? Suggest ways to correct an adverse balance of payment.

[6]

  1. Describe the meaning of the deductive method.
  2. Critically evaluate the revealed preference theory.
  3. Explain ISO product curves and their characteristics.

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