List of top Economics Questions

Which of the following is not a characteristic of a price taker firm?
In which type of firms is \( MC = MR = AC = AR \) in the long run?

In the following figure, the supply curve shifts from SS to S1S1 due to what reason? 

In the given diagram, at which point is producer’s equilibrium achieved? 

Which of the demand curves given in the figure is more elastic? 

\[ \mathbf{e_d = 0} \] means the demand for the good is
Explain why an indifference curve is downward sloping and convex to the origin.
Explain the law of demand with the help of diagram. Describe any five factors that affect the demand for a commodity.
Explain with diagram the effect of time element on equilibrium price.
Define foreign exchange rate. Differentiate between fixed and flexible exchange rates.
Define investment multiplier. What is the relation between investment multiplier and marginal propensity to consume?
Explain the circular flow of income in a two-sector economy.
What is the law of diminishing returns? Why does this law become operative?
How is technological progress a determinant of supply of a good by a firm? Explain.
Why does the budget line slope downward?
Explain any two objectives of government budget.
Define marginal rate of substitution.
What is the difference between inflationary gap and deflationary gap?
Give the formula for measuring price elasticity of demand according to percentage method.
What is the reason for the backward bending labour supply curve?
What is meant by complementary goods?
What is ordinal utility?
What is market equilibrium?
Define normative economics with a suitable example.
What is deficit budget?