BECC-131 · June 2022 · English
IGNOU BECC-131 June 2022 Previous Year Question Paper
PRINCIPLES OF MICROECONOMICS—I
Structured previous year question paper for BECC-131, June 2022 session.
Max marks: 100 · Questions: 10 · Sections: 3
Verified: 5 Aug 2026
B.A. (GENERAL)
(BAG)
Term-End Examination
June, 2022
BECC-131 : PRINCIPLES OF MICRO ECONOMICS-I
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. 2x20=40
Q1.(a) What do you mean by consumer equilibrium ? How does a consumer attain the equilibrium in the multi-commodity case ? Give illustration. 12
(b) How can you derive the demand curve with the help of law of diminishing marginal utility ? 8 2
(a) What is Production Possibility Curve ? Illustrate along with the underlying assumptions. 10
(b) Why does PPC slope downwards ? On which part of production possibility curve does production take place when resources are efficiently employed ?
Q2.Given the equation : where Q stands for quantity of a commodity, P stands for its price and m and n represent any constant numbers.
(a) Is the given equation, a demand or supply equation ? Give reasons for your answer. Also draw the curve representing such an equation. 6
(b) Now consider another equation : Q=r+sP...
(B) Here again Q stands for quantity of a commodity and P for price of the commodity, r and s represent any constant numbers. Considering equation
(A) and
(B), determine the equilibrium price (P*) and quantity (Q") of the commodity. 8
(c) Letm=500,n=1, r= 200, s = 2. What will be the values of equilibrium price (P*) and quantity (९)?
Q3.(a) Using an appropriate diagram, explain the law of variable proportions. 10
(b) What are the reasons behind varying returns viz increasing constant and decreasing returns to a factor in production ?
SECTION B
Answer any four questions from this section. 4x12=48
Q4.Distinguish between Price elasticity of demand and Income elasticity of demand. Explain the various methods that are used to measure price elasticity of demand. 44+8=12
Q5.Explain the law of diminishing marginal utility. In what case(s) may this law not apply ? 8+4=12
Q6.What is Isoquant ? Discuss the properties of isoquants. 44+8=12
Q7.What is meant by External economies ? Contrast it with external diseconomies. 64+6=12
Q8.What is meant by long-run average cost curve of production ? Is the long-run average cost curve always U-shaped ? Give reasons. 24+10=12
Q9.What do you mean by rationing system ? How does a price ceiling set below the equilibrium price level affect the quantity demanded and quantity supplied of a product ? 6+6=12
SECTION C
Q10.Write short notes on any three of the following : 3x4=12
(a) Arbitrage
(b) Central Problems of an Economy
(c) Normative Economics
(d) Sunk Cost
(e) Merit Goods BECC-131 4 Q=r+sP...
(B) BECC-131 6
(क) BAM (Arbitrage)