BCOG-171 · December 2023 · English
IGNOU BCOG-171 December 2023 Previous Year Question Paper
Principles Of Micro Economics
Structured previous year question paper for BCOG-171, December 2023 session.
Max marks: 100 · Questions: 8
Verified: 29 Jul 2026
BACHELOR OF COMMERCE
(GENERAL) (CBCS)
(BCOMG)
Term-End Examination
December, 2023
BCOG–171 : PRINCIPLES OF MICRO ECONOMICS
Time : 3 Hours Maximum Marks : 100
Note : Attempt any five questions. All questions
carry equal marks.
Q1.(a) What do you understand by factor s of production ? Briefly explain each of the four main factors. 4+6
(b) Explain the exceptions to the law of demand using the disti nction between substitution and income effect. 10 [ 2 ]
Q2.(a) State the law of diminishing marginal utility (or the law of satiable wants) and its limitations. 10
(b) Distinguish between total utility , average utility and marginal utility.
Q3.Explain the pro perties of indifference c urves and show that a budget price line is tangent to one and only one indifference curve.
Q4.What is a market ? Explain the conditions of market equilibrium with the help of a diagram.
Q5.Explain the marginal and average revenue of a firm in perfect competition. (2+8+10)
Q6.What is interdependence i n an oli gopolistic market ? What kind of problems does it create for an oligopoly equilibrium ?
Q7.What is the concept of rent ? Can rent be earned by factors other than land ? Discuss the Ricardian theory of rent. 2+8+10 [ 3 ]
Q8.Write short notes on any four of the following :
(a) Statics and Dynamics
(b) Determinants of supply
(c) Consumer’s surplus
(d) Characteristics of perfect competition
(e) Competitive wages 2023 -171 [ 6 ]