BCOG-171 · June 2023 · English
IGNOU BCOG-171 June 2023 Previous Year Question Paper
Principles Of Micro Economics
Structured previous year question paper for BCOG-171, June 2023 session.
Max marks: 100 · Questions: 7
Verified: 29 Jul 2026
BACHELOR OF COMMERCE
(GENERAL) (CBCS–BCOMG)
Term-End Examination
June, 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 is an economic system ? Explain the fundamental/central problems of an economy. 4+6
(b) Explain the law of demand with the help of demand schedule and demand curve.
Q2.(a) What is supply ? How is it different from stock ? 4+6
(b) Explain the concept of consumer’s surplus. What are its limitations ? 4+6 [ 2 ]
Q3.(a) What are the assum ptions of an indifference curve ? 10
(b) How the various tools of government intervention are applied while d etermining the price ?
Q4.What is monopoly ? Ho w does it differ from perfect competition ? Explain the determination of a monopolist’s equilibrium in the long period. (2+8+10)
Q5.(a) What is backw ard bending supply curve ? Explain with an example. 10
(b) Explain how wage rates and employment are determined in factor market.
Q6.(a) Why is long-run average cost curve “U” - shaped ? Explain with the help of a diagram. 10
(b) Distinguish between nominal and real rates of in terest. How are these interest rates determined ? 5, 5 [ 3 ]
Q7.Write short notes on any four of the following : 4×5=20
(a) Microeconomics and Macroeconomics
(b) Marginal utility of money
(c) Oligopoly
(d) Price ceiling
(e) Quasi rent 2023 -171 2+8+10 4×5=
(20)