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Important Questions for "Microeconomic":

[1]

  1. Generally, Demand curve is found:
  2. Ten principles of economics is related with:
  3. Which is true about stock?

[2]

  1. Explain the essential differences between macroeconomic and microeconomic approaches and their significance for economic theory.
  2. Explain the law of diminishing marginal utility. Does it apply to money?
  3. What is return to scale? Discuss its various types.

[3]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. What are the central problems of an economy?
  3. What is National Income? Explain various methods used for estimating national income in India.

[4]

  1. What do you understand by microeconomics?
  2. Illustrate the minimum support price policy using demand and supply curves.
  3. Discuss income and employment determination in a two-sector economy model.

[5]

  1. What is equilibrium according to the equi-marginal utility rule?
  2. How does Marshall measure utility?
  3. Explain the production possibility curve.

[6]

  1. Explain the meaning and definition of returns to scale.
  2. Critically evaluate the revealed preference theory.
  3. Prove that price effect equals income effect plus substitution effect.

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