1. Explain the concept of opportunity cost and provide an example of how it might affect decision-making in everyday life.

2. Discuss the law of demand and how it relates to the demand curve. Use a real-world example to illustrate how changes in price can influence consumer behavior.

3. Define and differentiate between 'positive economics' and 'normative economics.' Provide examples to highlight the distinction.

4. Analyze the impact of government intervention in markets, specifically focusing on price controls such as minimum wage laws and rent controls. What are the potential benefits and drawbacks of such policies?

5. Examine the different market structures in economics (perfect competition, monopolistic competition, oligopoly, and monopoly). How do they differ in terms of the number of firms, control over prices, and barriers to entry? Provide examples for each market structure.