Q1. Examine the welfare definition of economics.

Q2. Explain the scarcity definition of economics.

Q3. Explain the growth definition of economics.

Q4. Explain the fundamental problems of an economy.

Q5. What is microeconomics? What is its importance?

Q6. Explain the concept of macroeconomics and its importance.

Q7. Distinguish between microeconomics and macroeconomics.

Q8. Explain the differences between free goods and economic goods.

Q9. What is utility? What are its types?

Q10. Analyse the characteristics of wants.