Re to Pooja - SAQs from Lesson 1

Dear Pooja,
U will have to learn the foll SAQs from Chapter I
1. Free goods Vs Economic goods
2. Types of Utility
3. Circular flow of income
4. Characteristics of human wants
5. Wealth definition
6. Scarcity definition (Features are very Important)
7. Growth definition
8. Central problems of an economy (Viner's definition)
9. Deductive Vs Inductive methods
10. Microeconomics Vs Macroeconomics
11. Subject matter (scope) of Micro
12. Scope of Macro
13. Importance of Micro
14. Importance of Macro
15. Partial equilibrium Vs General equilibruim

Any 2 of the above will appear for IPE. In methodology U can write the 2 marks answers in case of emergency. Predicting questions from this chapter is very difficult as all the topics are of equal importance. Generally 1 SAQ is asked from methodology. So prepare accordingly.

Sailatha

SAQs from Elasticity

Dear Mayank,
This is the list of SAQs from Lesson 3. Any 2 of the following will appear in IPE.
1. Types of Elasticity
2. Determinants of elasticity (learn any 6)
3. Point method
4. Arc method
5. Total expenditure method
6. Importance of the concept of elasticity
7. Types of price elasticity
U can use either the notes given by me or the text book. But definitely learn these as they are very simple answers.

Sai Latha