1.What is Economics?
2.What are the fundamental economic questions?
3.What is opportunity cost?
4.Please draw the economic circular flow and explain.
5.(Assume Thailand produces only consumer and military goods) Please draw the PPC after improving the country technology and explain.
6.(Assume Thailand produces only consumer and military goods) Please draw the PPC after division of labor of consumer goods and explain
1.What is demand?
2.What is quantity demanded?
3.What is demand schedule?
4.What is demand curve?
5.What is supply?
6.What is quantity supplied?
7.What is supply schedule?
8.What is supply curve?
9.Please explain shortage and draw the graph
10.Please explain surplus and draw the graph
11.What is price celling?
12.What is price floor?
13.What is equilibrium?
14.What is equilibrium price?
15.What is equilibrium quantity?
16.What is consumer surplus?
17.What is producer surplus?
1.What is elasticity of demand?
2.How many types of elasticity of demand? And What?
3.How many methods to calculator elasticity of demand ? And What?
4.What is elasticity of supply?
5.How many types of elasticity of supply? And What?
6.How many methods to calculator elasticity of supply ? And What?
7.What is inelasticity of demand?
8.What is unitary elasticity of supply?
1.What is utility? Please explain.
2.What is util?
3.What is total utility? Please explain.
4.What is marginal utility?
5.What is marginal utility per dollar?
6.What is consumer equilibrium? Please explain.
7.What is Budget constrain?
8.What is Budget line?
9.What is indifference curve?
10.what will happen if there is increase in income? Please explain using the budget line and indifferent curve.
11.Assume Mr.John has two goods of consumption (rice and milk) what will happen if there is increase in price of milk? Please explain using the budget line and indifferent curve.
1.What is different between accounting profit and economic profit?
2.What is fixed cost? And How to calculate it?
3.What is variable cost? And How to calculate it?
4.What is total fixed cost? And How to calculate it?
5.What is total variable cost? And How to calculate it?
6.What is total cost? And How to calculate it?
7.What is average fixed cost? And How to calculate it?
8.What is average variable cost? And How to calculate it?
9.What is average total cost? And How to calculate it?
10.What is revenue?
11.What is total revenue? And How to calculate it?
12.What is marginal cost? And How to calculate it?
13.What is short run?
14.What is long run
15.What is marginal product of labor?
16.What is marginal cost?
1.What is perfect competitive market? Please explain using a graph.
2.What is monopoly market? Please explain using a graph.
3.What is monopolistic competition market? Please explain using a graph.
4.What is oligopoly market?
5.When marginal cost(MC) equal marginal revenue (MR) in monopoly market, what doses it mean?