BECC-131 · December 2022 · English
IGNOU BECC-131 December 2022 Previous Year Question Paper
PRINCIPLES OF MICROECONOMICS—I
Structured previous year question paper for BECC-131, December 2022 session.
Max marks: 100 · Questions: 12 · Sections: 3
Verified: 5 Aug 2026
BACHELOR OF ARTS (GENERAL)
(BAG)
(ECONOMICS)
Term-End Examination
December, 2022
BECC-131 : PRINCIPLES OF MICROECONOMICS-|
Time : 3 hours Maximum Marks : 100
Note: Attempt questions from each section as per
instructions given.
SECTION A
Answer any two questions from this section in about
500 words each.. 2x20=40
Q1.(a) Why does a demand curve slope downward ? Give reasons. 10
(b) Using geometrical method of calculating price elasticity of demand, show that the elasticity of demand varies between zero and infinite, in the case of a straight line demand curve.
Q2.(a) What is Marginal Rate of Substitution ? Why does it diminish in case of normal goods ? 10
(b) Given the following supply and demand equations : ७? - 50 - 57 Q§ =5P
(i) Determine the equilibrium price and quantity.
(ii) If the government sets a minimum price of = 8 per unit, how many units will be supplied and demanded ?
Q3.(a) Show the second stage of production under the law of variable proportion. Why does a producer always produce in this stage only? 10
(b) Explain why a producer attains equilibrium at tangency between an isoquant and an isocost line ?
Q4.(a) “The average variable cost curve is the reciprocal of average variable (factor) product curve.” Discuss. 8
(b) Find AFC, AVC, AC and MC from the following data : 12 TFC — = 100 Output Lo | 1|2)3 4 5 6 |
SECTION B
Answer any four questions from this section. 4x12=48
Q5.Distinguish between change in quantity demanded and change in demand. Explain the reasons for change in demand of a commodity. 6+6=12
Q6.Who bears the tax burden under the following situations : 64+6=12
(a) When supply curve is perfectly elastic and demand curve is downward sloping.
(b) When supply curve is of normal shape and demand curve is perfectly inelastic ?
Q7.What is Income Consumption Curve (ICC) ? Draw the ICC in case of normal goods, luxurious goods and inferior goods.
Q8.Define internal economies of scale. Explain its different types.
Q9.Draw long run marginal cost curve and long run average cost curve. Explain the relationship between these two.
Q10.What are the central problems of an economy ?
Q11.How do we solve these problems in a mixed capitalist economy ?
SECTION C
Q12.Make the distinction between any three of the following : 3x4=12
(a) Positive vs Normative Economics
(b) Own Price Elasticity of Demand vs Cross Price Elasticity of Demand
(c) Isoquants and Indifference Curves
(d) Returns to a Factor vs Returns to Scale
(e) | Stock Variable vs Flow Variable BECC-131 4 ७? - 50 - 57 Q§ =5P TFC — =