BCOG-171 PRINCIPLES OF MICRO ECONOMICS
Solved Assignment 2021-2022
TUTOR MARKED ASSIGNMENT
COURSE CODE : BCOG-171
COURSE TITLE : PRINCIPLES OF MICRO ECONOMICS
ASSIGNMENT CODE : BCOG-171/TMA/2021-22
COVERAGE : ALL BLOCKS
Maximum Marks: 100
|Title Name||BCOG-171 Solved Assignment 2021-2022|
|Service Type||Solved Assignment (Soft copy/PDF)|
|Semester||2021-2022 Course: B.Com(G) CBCS|
|Product||Assignment of BCOMG 2021-2022 (IGNOU)|
|Submission Date||1. Those students who are appearing in June 2021 Term End Examination they have to submit latest by in 15th March 2021.|
2. Those students who are appearing in December 2021 exams. They should download the new assignment and submit the same latest by 15th October 2021.
Note: Attempt all the questions.
(This section contains five questions of 10 marks each)
Q.1 What do you understand by economic system? Discuss the various
economic systems in their sequential order.
Q.2 Diagrammatically explain the concepts if income effect, substitution
effect and price effect. Also show the manner in which price effect
can be split up into income and substitution effects.
Q.3 Distinguish between fixed and variable inputs. What is the
importance of this distinction in the theory of production?
Q.4 What is meant by income inequality? How is distribution of income
different in the less developed countries from that in the developed
Q.5 Explain the marginal productivity theory of distribution. Also state its
(This section contains five short questions of 6 marks each)
Q.6 State the reasons on account of which almost every modern economy
is a dynamic one.
Q.7 Explain the exceptions to the law of demand using the distinction
between substitution and income effects.
Q.8 Explain the various determinants of supply of a commodity. (6)
Q.9 What is monopoly? How is it different from perfect competition? (6)
Q.10 How did classical economists explain distribution of income among
various factors of production ?
(This section contains four short questions of 5 marks each)
Q.11 ‘Scarcity is the mother of every economic system.’ Explain. (5)
Q.12 Discuss the outlay method to find out price elasticity of demand. (5)
Q.13 Explain the characteristics of monopolistic competition. (5)
Q.14 Critically examine the law of equimarginal utility (5)
BCOG 171, BCOG171, BCOG-171