Exam Details
| Subject | Economic Theory | |
| Paper | ||
| Exam / Course | Bachelor Degree in Commerce | |
| Department | School of Management Studies (SOMS) | |
| Organization | indira gandhi national open university | |
| Position | ||
| Exam Date | December, 2016 | |
| City, State | new delhi, |
Question Paper
No. of Printed Pages: 4 IECO-0061
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
00 December, 2016
o o ELECTIVE COURSE: COMMERCE
ECO-006 ECONOMIC THEORY
Time 2 hOllrs Maximum Marks: 50 Weightage 70%
Note: The paper contains three sections: Band C. Instructions are given in eac1z section along with marks.
SECTION
Answer any two questions from this section 2x12=24
1. What is meant by income inequality? Distinguish between 'Personal' and 'Functional' distribution of income. Suggest measures to reduce inequality of income and wealth.
2. Explain the determination of consumer's equilibrium through indifference curve analysis. Also state the conditions of consumer's equilibrium.
3. Why should equilibrium between marginal cost and marginal revenue be a necessary condition for equilibrium of a firm? Explain with the help of a diagram.
4. Explain the concept of Elasticity of Demand. What are its different types? What are the main determinants of Price Elasticity of Demand
SECTION
Answer any two questions from this section: 2x8=16
5. State and illustrate diagrammatically the law of Variable Proportions.
6. Explain critically Frank Knight's theory of profits.
7. Explain the concept of supply and state its determinants.
8. What is price discrimination? State the conditions under which price discrimination is practiced.
SECTION
9. Distinguish between any two of the following
Monopoly and Oligopoly. 2x5=10
Economies and Diseconomies of scale.
'Normal' goods and 'Inferior' goods.
Rent and Quasi-rent.
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
00 December, 2016
o o ELECTIVE COURSE: COMMERCE
ECO-006 ECONOMIC THEORY
Time 2 hOllrs Maximum Marks: 50 Weightage 70%
Note: The paper contains three sections: Band C. Instructions are given in eac1z section along with marks.
SECTION
Answer any two questions from this section 2x12=24
1. What is meant by income inequality? Distinguish between 'Personal' and 'Functional' distribution of income. Suggest measures to reduce inequality of income and wealth.
2. Explain the determination of consumer's equilibrium through indifference curve analysis. Also state the conditions of consumer's equilibrium.
3. Why should equilibrium between marginal cost and marginal revenue be a necessary condition for equilibrium of a firm? Explain with the help of a diagram.
4. Explain the concept of Elasticity of Demand. What are its different types? What are the main determinants of Price Elasticity of Demand
SECTION
Answer any two questions from this section: 2x8=16
5. State and illustrate diagrammatically the law of Variable Proportions.
6. Explain critically Frank Knight's theory of profits.
7. Explain the concept of supply and state its determinants.
8. What is price discrimination? State the conditions under which price discrimination is practiced.
SECTION
9. Distinguish between any two of the following
Monopoly and Oligopoly. 2x5=10
Economies and Diseconomies of scale.
'Normal' goods and 'Inferior' goods.
Rent and Quasi-rent.
Other Question Papers
Departments
- Centre for Corporate Education, Training & Consultancy (CCETC)
- Centre for Corporate Education, Training & Consultancy (CCETC)
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Subjects
- Accountancy-I
- Accountancy-II
- Business Environment
- Business Organisation
- Company Law
- Economic Theory
- Elements of Auditing
- Elements of Costing
- Elements of Income Tax
- Elements of Statistics
- Management Theory
- Mercantile Law
- Money, Banking & Financial Institutions