BCOG-171 PRINCIPLES OF MICRO ECONOMICS in English Solved Assignment 2022-2023

BCOG-171 PRINCIPLES OF MICRO ECONOMICS in English Solved Assignment 2022-2023


Maximum Marks: 100

Title Name

BCOG-171 Solved Assignment 2022-23

University IGNOU
Service Type Solved Assignment (Soft copy/PDF)
Course BCOMG
Language ENGLISH
Semester 2022-2023 Course: B.Com(G) CBCS
Session Valid from 1st July, 2022 to 30th June, 2023
Short Name BCOG-171
Assignment Code BCOG-171/TMA/2022-23
Product Assignment of BCOMG 2022-2023 (IGNOU)
Submission Date 1. Those students who are appearing in December Term End Examination they have to submit
latest by in 15 October.
2. Those students who are appearing in June exams. They should download the new assignment and submit the same latest by 15 March



Note: Attempt all the questions.
(This section contains five questions of 10 marks each)
Q.1 Explain the main determinants of demand of a commodity in the
market. Distinguish between an Inferior good (commodity) and a
Giffen good.
Q.2 Explain the Law of Supply. Point out its exceptions. (10)
Q.3 Explain the concept of consumer’s surplus. What are its limitations? (10)
Q.4 What is full-cost pricing principle? How does it lead to a higher than
optimum production?
Q.5 Explain the marginal productivity theory of distribution. Also state its
assumptions. Why is the marginal productivity theory not considered
a satisfactory theory of distribution?
(This section contains five short questions of 6 marks each)
Q.6 Distinguish between positive and normative economics. Which one
should be preferred and why?
Q.7 Explain the attainment of equilibrium position by a consumer with
the help of an indifference curve.
Q.8 What is backward bending supply curve? Explain with an example. (6)
Q.9 Explain the nature of Average Revenue Curve and Marginal Revenue
Curve of a firm under Oligopoly.
Q.10 Discuss the concept of quasi-rent. How does it differ from the
concept of economic rent?
(This section contains four short questions of 5 marks each)
Q.11 ‘Scarcity is the mother of every economic system.’ Explain. (5)
Q.12 What are the properties of an Isoquant? (5)
Q.13 Distinguish between primary and intermediate inputs. (5)
Q.14 Critically examine the Law of Equimarginal Utility. (5)



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