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IGNOU BCOG-171 Important Question & Exam Note Download
Top 20 Question of BCOG-171 Principles of Micro Economics
| S.No | Answer the following in about 500 words each. |
| 1 | Explain the main determinants of demand of a commodity in the market. Distinguish between an Inferior good (commodity) and a Giffen good. |
| 2 | Explain the Law of Supply. Point out its exceptions. |
| 3 | Explain the concept of consumer’s surplus. What are its limitations? |
| 4 | What is full-cost pricing principle? How does it lead to a higher than optimum production? |
| 5 | Explain the marginal productivity theory of distribution. Also state its assumptions. Why is the marginal productivity theory not considered a satisfactory theory of distribution? |
| S.No | Answer the following questions in about 250 words each. |
| 1 | Distinguish between positive and normative economics. Which one should be preferred and why? |
| 2 | Explain the attainment of equilibrium position by a consumer with the help of an indifference curve. |
| 3 | What is backward bending supply curve? Explain with an example. |
| 4 | Explain the nature of Average Revenue Curve and Marginal Revenue Curve of a firm under Oligopoly |
| S.No | Answer the following questions in about 100 words each. |
| 1 | ‘Scarcity is the mother of every economic system.’ Explain. |
| 2 | What are the properties of an Isoquant? |
| 3 | Distinguish between primary and intermediate inputs. |
| 4 | Critically examine the Law of Equimarginal Utility. |
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- Separate key points from supporting material.
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IGNOU BCOG-171 Important Question In Hindi Medium
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The Full Form of BCOG-171 is Principles of Micro Economics
it is BCOMG Course in BCOMG in IGNOU
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