Unit 1: Economics

1. What is economics?
2. What do resources include?
3. What is “well-being” mean?
4. What are two main types of economics?
5. Who are called economists?
6. What does microeconomics study?
7. What does macroeconomics study?
8. What is the difference between the economic theory of Adam Smith and
Marxism theory?
Unit 3: Microeconomics
1. What is microeconomics?
2. What does the term “trade-offs” mean?
3. What can you learn from the consumer theory?
4. What does the theory of the firm indicate?
5. What are three important themes of microeconomics?
Unit 4: Macroeconomics
1. What is the goal of microeconomics?
2. What are two major macroeconomic policies?
3. What are the main tools of monetary policy?
4. What are the main tools of fiscal policy?
5. What are the main objectives of these two policies?
6. What is the difference between microeconomics and macroeconomics?
7. Why is it said that microeconomics and macroeconomics are interdependent
and complement one another? Give example.
Unit 5: Demand and supply
1. What is the definition of “quantity demanded”?
2. How do prices of a good influence its demand?
3. What factors cause the whole demand curve shift to the left or to the right?
4. What is the difference between “supply” and “quantity supplied”?
5. How do prices of a good influence its supply?
6. When is a market in equilibrium?
7. What is shift factors of demand include?
The main difference between demand and quantity demanded is this:
Demand refers to the willingness of consumers to buy different amounts of
products or services at different prices. Quantity demanded refers to the
willingness of consumers to buy a specific quantity of a specific product or
services at a specific price.
Unit 6: Public finance
1. What is the main revenues of government? => Tax
2. What are federal funds?
3. For what purpose are these funds used?
4. What are trust funds?
5. For what purpose are these funds used?
6. By what way does the Treasury borrow money?
7. Who does the Federal Government owe money to?