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Questions:

1. What is demand? How is it different from effective demand?
2. State the features of advertising elasticity of demand.
3. Mention the concept of indifference curve.
4. What is price line? State its characteristics for consumer's equilibrium.
5. Mention the types of market.
6. Distinguish between perfect and imperfect collusion in oligopoly.
7. Distinguish between perfect and pure competition.
8. Mention the importance of demand analysis.
9. Distinguish between law and elasticity of demand.
10. Write a short note on factor pricing versus product pricing.
11. Point out the characteristics of Law of Increasing Returns.
12. What is monopsony? Write its features.
13. What is Economics? How is it different from managerial economics? Explain.
14. Write a detailed note on Cardinal Utility Analysis of Demand.
15. What is production function? Describe the classical and modern approaches of law of diminishing returns.
16. Explain the statement 'Perfect competitive firm is price acceptor' and point out equilibrium of firm.
17. Explain 'Monopolist is a king without crown' and describe diagrammatically Mrs. Joan Robinson's method of monopoly firm's equilibrium.
18. Critically examine the marginal productivity theory of distribution.