Indira Gandhi National Open University (IGNOU) 2005 B.Com Economic theory - exam paper

Test Papers / Previous ques. Papers of IGNOU ECO6 Economic Theory June 2005
Bachelors Degree Programme

Term-End exam
June, 2005

Elective Course: Commerce
ECO6: Economic Theory
Time : two hours
Maximum Marks : 50 (Weightage 70%)

Note : The paper contains 3 parts A, B and C. Instructions are provided in every part along with marks.

part A

ans any 2 ques. from this part. (2x15=30)

1. Distinguish ranging from Microeconomics ano Macroeconomic.Explain their complementarity and limits there of.(5+10)

2. Brielly discuss what is meant by Marginal Rate of Substitution. Why does marginal rate of substitution ol X and Y fall when quantiiy of X is increased? discuss with an illustration. (5+10)

3. discuss briefly the different determinants of supply of a commodity. elaborate the main determinants of the elasticity of supply ? (8+7)

4. Distinguish ranging from nominal and real rates ol lnterest. Is interest a return on capital ? Dscuss the Loanable Funds approach in that situation. (5+2+8)

part B

ans any 2 ques..

5. elaborate the determinants of the structure of a market? discuss. (7)

6. What is meant by Elasticity of Demand ? elaborate the determinants of Price-elasticity of demand? (2+5)

7.Discuss the concept of Quasi-Rent. (7)

8. What ts meant by Price Consumption Curve ? discuss with the help of a diagram. (7)

part C

9. describe the subsequent : (2+2+2)

(i) Public goods

(ii) Normative Economics

(iii) Monopoly

Earning:   Approval pending.