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Important Questions for "Microeconomic":

[1]

  1. Ten principles of economics is related with:
  2. Modern theory of interest developed by:
  3. The consumer price index is used to measure:

[2]

  1. Explain the essential differences between macroeconomic and microeconomic approaches and their significance for economic theory.
  2. Show how in perfect competitive equilibrium the price of a commodity is equal to its average and marginal cost of production.
  3. Distinguish fiscal policy and monetary policy.

[3]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. What do you understand by economies of scale?
  3. Explain the concept of globalization along with its advantages and disadvantages.

[4]

  1. What do you understand by microeconomics?
  2. Describe the major functions of Indian commercial banks.
  3. Explain the concepts of revenue deficit, fiscal deficit, and primary deficit in the Indian government budget.

[5]

  1. What is equilibrium according to the equi-marginal utility rule?
  2. Explain the circular flow of income in a three-sector economy.
  3. Explain the price ceiling policy with diagrams.

[6]

  1. What do you mean by price discrimination?
  2. Describe the meaning of the deductive method.
  3. Explain the concept of consumer's surplus.

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