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Questions:

1. What are the central problems of an economy?
2. Differentiate between Microeconomics and Macroeconomics.
3. What is meant by Price Mechanism?
4. Differentiate between change in demand and shift in demand.
5. What do you understand by economies of scale?
6. Explain briefly the functions of WTO.
7. What are the causes of inflation on the demand side?
8. Explain the role of the group of twenty (G-20).
9. Write a brief note on full employment.
10. What do you understand by Perfect Competition? How is price determined in this market?
11. What is monopolistic competition? How are price and output determined under it?
12. Explain the types of income elasticity of demand.
13. Make a comparison between risk-bearing and uncertainty-bearing theories of profit.
14. Explain the concept of globalization along with its advantages and disadvantages.
15. Write an essay on Export-Import Policy of India.
16. What are the main objectives of monetary policy? What are the limitations of monetary policy in an underdeveloped economy?
17. What is National Income? Explain various methods used for estimating national income in India.