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Ignou question papers 2020 -2021 | Important Questions || IGNOU Previous Year Question Paper | IGNOU announces the term-end exam date sheet before the IGNOU exam.
Students appearing in the IGNOU Term and Examination should complete their complete syllabus and start their exam practices as well.
It is important to work on the previous year questions in IGNOU. This increases the likelihood of students getting goods marks in the paper.
Here we are providing Previous Years solved papers For B.com First year ECO 06: Economic Theory for IGNOU students.
These papers are helpful for upcoming exam.
February, 2021
ECO-06 : ECONOMIC
THEORY
SECTION A
Answer any two questions from this section:
Q1. What do you understand by Microeconomics and Macroeconomics? Explain and distinguish between Positive versus Normative economics.
Q2. Describe the Law of Equi-Marginal Utility. With the help of diagram explain how a consumer attains equilibrium.
Q3. What do you understand by Production Possibility Curve? Illustrate it with the help of a suitable example. Also state its assumptions.
Q4. What is budget line? Explain the equilibrium of consumer with the help of indifference curve analysis.
SECTION B
Answer any two questions from this section:
Q5. What is Law of Variable Proportions? Distinguish between ‘Law of Returns’ and ‘Returns to Scale’.
Q6. Explain the Marginal Productivity Theory of Distribution.
Q7. Explain a firm’s short period equilibrium under perfect competition.
Q8. What is Market Structure? Explain the main features of monopolistic competition.
