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Give reason or explain the following statement:
Micro economic theories based on certain assumptions.
Concept: Assumption of Micro Economic Analysis
Fill in the blanks using proper alternatives given in the bracket.
When Government revenue exceeds government expenditure. It is known as a _______________ budget.
Concept: Micro Economics - Useful to Government
Match the following:
| Group ‘A’ | Group ‘B’ | ||
| a) | Marginal utility | 1) | Price Discrimination |
| b) | Medicines | 2) | Legal tender money |
| c) | Monopoly | 3) | Government bank |
| d) | Currency Notes | 4) | Utility from last unit. |
| e) | Central Bank | 5) | Inelastic demand |
| 6) | Commercial bank | ||
| 7) | Utility of all units | ||
| 8) | Elastic demand |
Concept: Use of Marginalism Principle in Micro Economics
Write whether the following statement is True or False:
Price theory is the base of micro economic analysis.
Concept: Micro Economics - Price Theory
Define of Explain the following concept.
Market
Concept: Analysis of Market Structure
Distinguish between Any FOUR of the following :
Income method and Expenditure method.
Concept: Micro Economics - Slicing Method
Rewrite the following sentences by using proper substitute given in the bracket:
The nature of the market of barter system is ________.
Concept: Analysis of Market Structure
Rewrite the following sentences by using proper substitute given in the bracket:
There is lack of ________ in monopoly.
Concept: Analysis of Market Structure
State whether the following statements are TRUE or FALSE :
The problems of Nation are studied in the micro economy.
Concept: Assumption of Micro Economic Analysis
Fill in the blanks with appropriate alternatives given in the bracket.
If the price of the inferior goods falls, the demand for them will ________.
Concept: Micro Economics - Price Theory
Give reasons or explain the following statement:
Assumptions of micro economics are unrealistic.
Concept: Assumption of Micro Economic Analysis
Give reason or explain the following statement.
Micro Economic theories are based on certain assumptions.
Concept: Assumption of Micro Economic Analysis
Write short answer for the following question :
Functions of Entrepreneur
Concept: Assumption of Micro Economic Analysis
Complete the correlation:
Macro Economics : ______ :: Micro Economics : Price theory.
Concept: Micro Economics - Price Theory
The law of equi-marginal utility is based on certain assumptions.
Concept: Law of Equi-Marginal Utility
Write short note on :
Giffen's paradox.
Concept: Law of Equi-Marginal Utility
State and explain in detail the Law of Diminishing Marginal Utility ?
Concept: Law of Equi-Marginal Utility
State whether the following statements are TRUE or FALSE:
Marginal utility increases with increase in consumption.
Concept: Total Utility and Marginal Utility
State whether the following statements are TRUE or FALSE:
In deficit budget, expenditure is more than income.
Concept: Total Utility and Marginal Utility
The law of equi-marginal utility is based on the law of _________.
Concept: Law of Equi-Marginal Utility
