IGNOU| ECONOMIC THEORY (ECO - 06)| QUESTION PAPER – (DEC - 2023)| (BDP)| ENGLISH MEDIUM
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December - 2023
ELECTIVE COURSE: COMMERCE
ECO-06
ECONOMIC THEORY
Time: 2 hours
Maximum Marks: 50
Weightage: 70%
Note: The paper contains three Sections–A, B and C.
Instructions are given in each Section along with marks.
हिंदी माध्यम: यहां क्लिक करें
Section—A
Note: Answer any two questions from this Section. 2×12=24
1. Distinguish Between the following:
(a)
Inductive and Deductive reasoning
(b) Micro
and Macro economics
2. Discuss the features of capitalism. How does price mechanism
work in a capitalist economy?
3. Explain the Law of Diminishing Marginal Utility. What are its
limitations?
4. How can law of demand be used by the government in deciding
about the price policy and tax-cum subsidy policy?
Section—B
Note: Answer any two questions from this Section. 2×8=16
5. What do you understand by the term ‘Monopolistic Competition’?
Explain its characteristics.
6. Explain the meaning of term ‘Marginal Revenue Productivity
(MRP). State the assumptions on which the Marginal Revenue Productivity (MRP)
theory is based.
7. Explain a firm’s short period equilibrium under perfect
competition.
8. What is market structure? Explain the main features of
monopolistic competition.
Section—C
9. Write short notes on any two of the following: 5,5
(a) Mixed
economy
(b)
Extension of demand and increase (shift) in demand
(c)
Discriminating Monopoly
(d)
Nominal and real rate of interest
***
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