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Important Questions for "Microeconomics":

[1]

  1. Who is the father of modern economics?
  2. The consumer price index is used to measure:
  3. According to Friedman's theory of money which one is true?

[2]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. Make a comparison between risk-bearing and uncertainty-bearing theories of profit.
  3. Explain the concept of globalization along with its advantages and disadvantages.

[3]

  1. What do you understand by microeconomics?
  2. Illustrate the circular flow of income in a two-sector economy.
  3. Discuss income and employment determination in a two-sector economy model.

[4]

  1. What reforms are connected to Indian banking?
  2. What defines the market value of goods and services produced within a year?
  3. Illustrate demand elasticity measurement using the total expenditure method.

[5]

  1. Describe the meaning of the deductive method.
  2. Explain the concept of consumer's surplus.
  3. Define price elasticity of demand. Distinguish between point elasticity and arc elasticity.

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