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Important Questions for "Microeconomics":

[1]

  1. Micro economics studies the economic behaviour of:
  2. Regression analysis is a statistical tool for the investigation of:
  3. Liquidity preference theory of interest is concerned with:

[2]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. What are the central problems of an economy?
  3. What is monopolistic competition? How are price and output determined under it?

[3]

  1. What do you understand by microeconomics?
  2. Draw demand curves for price elasticities ep = 0, ep > 1, ep < 1, and ep = infinity.
  3. Differentiate between average propensity to consume and marginal propensity to consume.

[4]

  1. What is elasticity of a straight supply line?
  2. How does income affect the demand for inferior goods?
  3. Define marginal propensity to consume.

[5]

  1. What are the determinants of demand?
  2. Discuss the law of equi-marginal utility.
  3. What are the main determinants of the elasticity of demand?

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