BECC-131 · December 2024 · English
IGNOU BECC-131 December 2024 Previous Year Question Paper
PRINCIPLES OF MICROECONOMICS—I
Structured previous year question paper for BECC-131, December 2024 session.
Max marks: 100 · Questions: 13 · Sections: 3
Verified: 5 Aug 2026
BACHELOR OF ARTS (GENERAL)
(BAG) (ECONOMICS)
Term-End Examination
December, 2024
BECC-131 : PRINCIPLES OF
MICRO ECONOMICS-I
Time : 3 Hours Maximum Marks : 100
Note :
(i) Answer questions from each Section as
per instructions.
(ii) Section A : Answer any two questions
from this Section in about 500 words
each.
(iii) Section B : Answer any four questions
from this Section.
(iv) Section C : Distinguish between any
three from the following.
Section—A
Note : Answer any two questions from this Section
in about 500 words each. 2x20=40
Q1.(a) Explain the determinants of demand for a consumer. 10
(b) Find the cross price elasticity of demand. Are the goods substitutes or complements ? P Q
Q4.(a) Discuss the implications of price floor with the help of a diagram. 10
(b) What is price effect ? Show its decomposition of substitution effect and income effect for a normal good.
Q5.(a) What is an Isoquant ? Explain the characteristics of an isoquant. 10
(b) Using isoquant and isocost line, explain the producer’s equilibrium when the output is maximum for a given cost.
Q6.(a) Explain the relationship between the Average cost and the Marginal cost. 10
(b) “Long-run average cost curve is the envelope of the short-run total cost curves.” Explain with diagram.
Section—B
Note : Answer any four questions from this
Section. 4x12=48
Q7.What is a Production Possibility Curve ?
Q8.Explain its characteristics.
Q9.Explain the three stages of production in short-run, using law of variable proportions.
Q10.Why should a_ rational producer under competitive conditions produce in stage-II?
Q11.What are the determinants of elasticity of supply ? Explain the different types of elasticity of supply using diagram.
Q12.What are economies and diseconomies of scale ? Explain.
Q13.Explain law of equimarginal utility and law of diminishing marginal utility with the help of a diagram.
Q14.“The average cost curve is U-shaped while the average fixed cost curve is a_ rectangular hyperbola.” Explain with the help of a diagram.
Section—C
Q15.Distinguish between any three of the following pairs : 4x3=12
(6) Economic cost and Accounting cost Gi) Merit goods and Normal goods
(ii) Cardinal vs. Ordinal Utility Approach
(iv) Public us. Private goods
(v) Sunk cost vs. Fixed cost P Q