ECO-06 Economic Theory SOLVED ASSIGNMENT 2019-2020

Course Code : ECO-06
Course Title : Economic Theory
Assignment Code : ECO-06/TMA/2019-20
Coverage : All Blocks

Title Name	ECO-06 Economic Theory Solved Assignment 2019-20
University	IGNOU
Service Type	Solved Assignment (Soft copy/PDF)
Course	BCOM
Language	ENGLISH
Semester	2019-2020 Course: BCOM
Session	2019-20
Short Name	ECO-06 (ENGLISH)
Assignment Code	ECO-06/TMA/2019-20
Product	Assignment of BCOM 2019-2020 (IGNOU)
Submission Date	1. Those who are enrolled in July 2019, it is valid up to June 2020. 2. Those who are enrolled in January 2020, it is valid up to December 2020.
Price	RS. 150

Attempt all the questions
1. What do you understand by factors of production? Briefly explain each of the four main
factors. (20)
2. Diagrammatically explain concepts of income effect, substitution effect and price effect. Also
show the manner in which price effect can be split up into income and substitution effects. (20)
3. Explain the significance of ‘movement along the supply curve’ as distinguished from ‘shift of the
supply curve.’ (20)
4. What is monopoly? How does its concept differ from that of perfect competition? (20)
5. Write short notes on the following :
(a) Concept of Equilibrium
(b) Ricardian theory of rent
(c) Full cost pricing principle
(d) Isoquant (4×5)

ECO-06, ECO-6, ECO 06, ECO 6, ECO06, ECO