Interview Questions on Academic Subjects

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