BECC-131 · June 2025 · English
IGNOU BECC-131 June 2025 Previous Year Question Paper
PRINCIPLES OF MICROECONOMICS—I
Structured previous year question paper for BECC-131, June 2025 session.
Max marks: 100 · Questions: 12 · Sections: 6
Verified: 5 Aug 2026
BACHELOR OF ARTS (GENERAL)
(BAG) (ECONOMICS)
Term-End Examination
June, 2025
BECC-131 : PRINCIPLES OF
MICROECONOMICS—I
Time : 3 Hours Maximum Marks : 100
Note: Answer questions from each Section as
per instructions.
Section A: Answer any two questions.
Section B : Answer any four questions.
Section C : Write short notes on any
three.
Section—A 2x20=40
Q1.(a) “Want is different from demand of the commodity.” Explain how ? Give reasons as to why the demand curve slopes downwards. 10
(b) Explain the main determinants of price elasticity of demand.
Q2.(a) Derive the demand curve with the help of Law of Diminishing Marginal Utility.
(b) Using diagram, show that price effect is the sum of income and substitution effects for a normal good.
Q3.(a) Explain the concept of expansion path in the long-run. Draw the same for a linear production function which is homogeneous. 10
(b) Explain why for a_ least cost combination of inputs, a firm requires that the marginal rate of technical substitution be equal to the ratio of input prices.
Q4.(a) Discuss the properties of indifference curve. 10
(b) Calculate AVC, ATC and MC for the following : 10 Output TC TFC 0 120 120 1 180 120 2 200 120 3 210 120 4 225 120 5
Section—B 4x12=48
Q5.What is production possibility curve ? State its properties. When does PPC shift ?
Q6.What is the Law of Equi-Marginal Utility ?
Q7.Explain how the consumer equilibrium is achieved in multi-commodity case.
Q8.Discuss the implications of a price ceiling using diagram. Give an example of price ceiling.
Q9.Explain the different stages of law of returns to scale with the help of isoquants.
Q10.Explain the relationship between average cost and marginal cost with the help of a diagram.
Q11.Explain the concept of diminishing returns in production. Why the law does not operate in agriculture ?
Section—C
Q12.Write short notes on any three of the following : 3x4=12 @) Difference between Economic profit and Accounting profit Gi) Exceptions to the Law of Diminishing Marginal Utility
(iii) Cross price elasticity of demand
(iv) Central problems of an economy
(v) Merit goods 0 120 120 1 180 120 2 200 120 3 210 120 4 225 120 5