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Questions:

1. What is opportunity cost?
2. What is the ability of an object to satisfy human needs?
3. What must be equal for maximum consumer satisfaction?
4. Which factors do not affect changes in demand?
5. How does the demand for Giffen goods react to price increase?
6. What is elasticity of a straight supply line?
7. What is an active factor of production?
8. What shape is the average cost curve?
9. Which characteristic is not part of perfect competition?
10. Where is average revenue equal to marginal revenue?
11. When does total utility decrease?
12. How to calculate demand elasticity given changes in price and demand?
13. What is demand elasticity for luxury goods?
14. What is the consumption of fixed capital?
15. Which formula defines disposable income?
16. What qualifies as money?
17. What does money supply include?
18. What defines inflation?
19. Which functions do commercial banks perform?
20. When was the Reserve Bank of India established?
21. What reforms are connected to Indian banking?
22. What defines a budget?
23. What is true about unbalanced budgets?
24. What is the meaning of exchange rate?
25. Who developed the employment multiplier theory?
26. What does microeconomics study?
27. What slope does a normal demand curve have?
28. What is equilibrium according to the equi-marginal utility rule?
29. What defines balance in a four-sector open economy?
30. What happens when a country's net income from abroad is negative?
31. How does Marshall measure utility?
32. Which is not an exception to the law of diminishing marginal utility?
33. What is demand elasticity at the midpoint of a straight demand curve?
34. What is the shape of a perfectly elastic demand curve?
35. What is the effect of proportional increases in all production resources?
36. How does income affect the demand for inferior goods?
37. What defines the market value of goods and services produced within a year?
38. What is a qualitative credit control method?
39. What is not an equilibrium condition for monopoly firms?
40. What are the objectives of monetary policy?
41. Explain the production possibility curve.
42. Discuss the Giffen Paradox briefly.
43. What is the difference between normal goods and inferior goods?
44. Explain the law of diminishing returns.
45. Describe monopolistic competition.
46. Explain the circular flow of income in a three-sector economy.
47. Define marginal propensity to consume.
48. Illustrate the contractionary monetary gap.
49. Clarify the role of the central bank as a lender of last resort.
50. List the three main sources of demand and supply for foreign exchange.
51. Illustrate demand elasticity measurement using the total expenditure method.
52. Explain the price ceiling policy with diagrams.
53. What are the main features of a perfectly competitive market?
54. Discuss the developmental functions of commercial banks.
55. Describe three quantitative credit control techniques of a central bank.
56. Explain progressive taxation with merits and demerits.
57. What is balance of payment? Suggest ways to correct an adverse balance of payment.