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Important Questions for "Microeconomics":

[1]

  1. According to the classical theory of interest rate is determined by:
  2. Which is the indicator of economic growth?
  3. What are types of the returns to scale?

[2]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. What do you understand by economies of scale?
  3. Write a brief note on full employment.

[3]

  1. What do you understand by microeconomics?
  2. Illustrate the minimum support price policy using demand and supply curves.
  3. Draw demand curves for price elasticities ep = 0, ep > 1, ep < 1, and ep = infinity.

[4]

  1. What is the ability of an object to satisfy human needs?
  2. What slope does a normal demand curve have?
  3. Discuss the developmental functions of commercial banks.

[5]

  1. Discuss the law of equi-marginal utility.
  2. Explain the law of variable proportions with the help of a suitable diagram.
  3. Define price elasticity of demand. Distinguish between point elasticity and arc elasticity.

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