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What is demand? What is predatory pricing?

What is the shape of the demand Explain the concept of absolute


curve? advantage.
What is supply? What is income effect?
What is the shape of the supply What do you mean by substitution
curve? effect?
What are Giffen Goods? What is monopoly?
What are the determinants of Define oligopoly.
individual demand? What is monopsony?
What are the determinants of supply? Give examples of monopoly,
How are prices determined? oligopoly, and monopsony.
What is the Law of Diminishing How is a monopoly different from a
Marginal Utility? cartel?
What is a Lemon Market?
What is Opportunity Cost? What is asymmetric information?
What is a Veblen Good? What does the Hecksher-Ohlin
What is price elasticity of demand? Theorem state?
What is income elasticity of What is a tariff? Why are they
demand? imposed?
What do you mean by cross elasticity What is GDP? How is it measured?
of demand? What is GNP?
What are complementary goods? What is the difference between GDP
What are substitute goods in and GNP?
economics? Between GDP and GNP, which is a
What are Indifference Curves? better estimate?
What are the properties of Define nominal GDP.
Indifference Curves? What is real GDP?
What is the shape of an Indifference What is the multiplier effect?
Curve? Define inflation.
What do you mean by a deadweight What are the causes of inflation?
loss? Explain demand-pull inflation? Does
What is demand forecasting? India experience it?
How is demand forecasting done? What is cost-push inflation? Does
What are externalities? India experience it?
What do you mean by the 'free-rider' What is the Fisher Hypothesis?
problem? What is BoP?
What are positive externalities? What are isoquants?
Give two examples of positive Explain the Cobb-Douglas
externalities? Production Function.
What are negative externalities? What is the IS schedule?
What is the negative externality What is the LM schedule?
associated with a nuclear power
plant?
What is a Pigovian tax?
Is carbon tax an example of a
Pigovian tax?

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