Economics interview questions and answers

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Economics interview questions and answers


1. What is an economic problem? What are its root causes?
2. Explain the term resource optimization?
3. Distinguish between Gross profit and Net profit.
4. How would you distinguish between Accounting Profit and Economic Profit?
5. What should be the profit policy?
6. What is Demand in economics? Which factors determine demand?
7. How is demand different from market demand?
8. What factors influence market demand?
9. State and explain law of Demand?
10. What are Giffen goods?
11. What do you understand by Increase & decrease in demand and Expansion & contraction of demand?
12. What is elasticity of demand?
13. What are different types of elasticity of demand?
14. What do you understand by price elasticity of demand? Explain.
15. What are the types of price elasticity?
16. How is perfectly elastic demand different from perfectly inelastic demand?
17. Differentiate between relative elastic demand and relative inelastic demand.
18. Define Unitary Elastic demand.
19. What are the key factors that influence price elasticity of demand?
20. Is the concept of elasticity of demand significant? If yes, explain.
21. What is income elasticity of demand?
22. How would you measure income elasticity? What is the formula?
23. What are the types of income elasticity of demand?
24. What is the difference between low income elasticity of demand and high income elasticity of demand?
25. Explain Zero Income elasticity.
26. What is cross elasticity of demand? Explain.
27. What id demand forecasting?
28. Why is it necessary to do forecasts?
29. Which factors influence demand forecasts?
30. What are the levels at which forecasts are done?
31. What is the difference between general and specific forecasts?
32. What are the best known techniques or methods of forecasting demand?
33. In business, why is correlation and regression analysis used?
34. Explain time series analysis.
35. What methods of forecasting are used for new products?
36. What is the main criterion for a good demand forecast?
37. What is the difference between macro forecasts and micro forecasts?
38. Differentiate between general forecasts and specific forecasts.
39. What are the main causes of inflation?
40. How can the government of India control inflation?
41. What is depression and how is it different from inflation?
42. What is the advantage of mixed economy system?
43. What kind of market demand and supply information would be useful to you in deciding upon a business strategy?



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