problem 1) Answer all the problems:
(i) What do you mean by business economics.
(ii) What is meant by inductive method?
(iii) describe consumer surplus in detail?
(iv) Briefly describe substitution effect?
(v) What is equi-marginal utility?
problem 2) prepare down the difference between micro and macro economics.
problem 3) describe substitution effect?
problem 4) What is IC-curve? describe the characteristics of IC-Curve in detail.
problem 5) Answer all the problems:
(i) What is supply curve?
(ii) What do you mean by demand forecasting?
(iii) describe short run production function.
(iv) What do you mean by return to scale?
(v) What are the characteristics of isoquants.
problem 6) describe the law of demand in detail.
problem 7) Describe various cost curves.
problem 8) describe the theory of kinked demand curve?