Q.1. Discuss the difference between Micro and Macro Economics. What are the Q.2. Q.3. topics discussed in both these branches of economics? Discuss the concept of consumer Surplus and state its importance. What is Elasticity of Demand? How is it measured? How is price and output determined under Monopolistic Competition? Critically examine the Ricardian Theory of Rent Explain the different methods of measurement of National Income. What are Q.4. Q.5. Q.6. the difficulties involved in its correct measurement? Q.7. Discuss the merits and demerits of direct and indirect taxes. Q.8. The total cost function is given as: TC Q3 - 202 + 15Q + 100 Find () Marginal Cost (ii) Slope of Marginal Cost (iii) Average Variable Cost (iv) Slope of Average Variable Cost.
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Q1 Economics is divided into two categories: microeconomics and macroeconomics. Microeconomics is the study of individuals and business decisions, while macroeconomics looks at the decisions of countries and governments.
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