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problem 1:

a) Define the term demand.
b) Illustrate the law of demand.
c) In brief describe the reasons for the downward sloping demand curve.

problem 2:

a) Describe as to how the individual demand curve can be derived?
b) How can one derive the market demand? Describe the idea by using the desirable suppositions.

problem 3: Describe the idea of shift in demand. Illustrate the factors influencing the shift in demand?

problem 4: Describe the possible cases as to when we can predict the exceptions to the law of demand.

problem 5:

a) Define the term price elasticity of demand.
b) Describe the method of computing it?

problem 6: Describe as why the price elasticity of demand differs all along with the straight line demand curve.

problem 7:

a) Define the term income elasticity.
b) Describe as to how we can categorize goods according to the different values.

problem 8:

a) Describe the different factors influencing the elasticity.
b) Illustrate the uses of the idea of elasticity.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M912410

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