Sunday, October 6, 2013

Possible questions for Econ 21 and Econ 1N:


Possible questions for Econ 21 and Econ 1N:

 1.     Explain Elasticity of Demand and its practical importance when government imposes a tax on a commodity.
 2.     What is your understanding of behavioral economics?
 3.     Is it possible to get so much of a good that it turns into a bad? If so, give an example.

 4.     Discuss “the short-run vs. the long-run in” in measuring costs.

 5.     Provide and discuss a good example of price elasticity of demand

 6.     Explain why earning zero economic profit is not as bad as it sounds.

 7.     Explain the requirements in a perfectly competitive market.


8.     Explain competition as a market structure.

9.     Under what condition will a monopoly firm incur losses?

10. Discuss the advantages and disadvantages of regulation (as you see it).

 

Additional questions for Econ 1N.

 

11. Do you think land monopoly is a hindrance to economic development and national industrialization? Explain.

12. Why is land reform a centerpiece program of every regime?

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