Part A: Microeconomics
Unit-1 Basic Concept of Market Economy
Long Answer Questions
- Derive individual and market demand curve. [10]
- What is shift in supply curve? What are its causes? [5+5=10]
- Explain the Law of demand with diagram. What are the determinants of demand? [6+4=10]
- Define the law of demand? Why does demand curve slope downwards to the right? [6+4=10]
- What is shift in demand curve? What are the causes of leftward shift in demand curve? [5+5=10]
- What is the law of demand? Mention its exceptions. [5+5=10]
- What is shift in demand curve? What are its causes? [5+5=10]
- What is shift in demand curve? What are its causes of rightward shift in demand curve? [5+5=10]
- Explain the law of supply with a diagram. What are the causes of shift in supply curve? [5+5=10]
- Define the law of supply. Explain the law of supply with the help of table and diagram. [2+8=10]
- What is market demand? Explain how a market demand curve is derived. [3+7=10]
- What is shift in supply curve? What are the causes of rightward shift in supply curve? [5+5=10]
- What is shift in demand curve? What are the factors which bring change in demand? [5+5=10]
- Describe the main determinants of demand. Give an example of joint demand. [8+2=10]
- Distinguish between desire and demand. Why does demand increase when price of a commodity falls? [5+5=10]
- Define supply and supply schedule. What are the factors, which bring about changes in supply? [5+5=10]
Short Answer Questions
- Explain shift in demand curve with diagram. [5]
- Explain the law of supply. [5]
- What is shift in demand curve? [5]
- What is market economy? [5]
- Distinguish between movements along a shift in demand curve. [5]
Very Short Answer Questions
- What is law of supply? [2]
- Mention four characteristics of market economy. [2]
- Derive a market demand schedule. [2]
- What is market economy? [2]
- What is shift in supply curve? [2]
- What is market demand curve? [2]
- Distinguish between desire and demand. [2]
- Define the law of supply. [2]
Write short notes on:
a. Law of Demand [5]
Note: All the questions are important for exam. For more questions visit another post. Students gives their answer their own way is the best.