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Important Questions for "Microeconomics":

[1]

  1. Generally, Demand curve is found:
  2. Economic forecasting is a process of:
  3. The restatement of quantity theory of money is associated with:

[2]

  1. Differentiate between Microeconomics and Macroeconomics.
  2. What are the causes of inflation on the demand side?
  3. Make a comparison between risk-bearing and uncertainty-bearing theories of profit.

[3]

  1. What do you understand by microeconomics?
  2. Illustrate the circular flow of income in a two-sector economy.
  3. How is consumer equilibrium established using the indifference curve analysis?

[4]

  1. Discuss the Giffen Paradox briefly.
  2. Clarify the role of the central bank as a lender of last resort.
  3. Describe three quantitative credit control techniques of a central bank.

[5]

  1. Describe the meaning of the deductive method.
  2. Critically evaluate the revealed preference theory.
  3. Explain the law of variable proportions with the help of a suitable diagram.

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