1. Distinguish between Micro economics and Macro economics.

2. What do you mean by price elasticity of demand? How it can be measured?

3. What do you mean by opportunity cost?

4. describe indifference curve in detail.

5. What do you mean by selling costs? Why selling costs are significant in monopolistic competition?

6. prepare down the steps involved in estimating national income by income method?

7. What do you understand by static multiplier?

8. Describe the phases of Recession and Depression in a trade cycle.

9. prepare down the different instruments of monetary policy?

10. What do you mean by Hyper inflation. describe in detail.