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EEC-11 EM 2024-25 SOLVED ASSIGNMENT

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EEC – 11 FUNDAMENTALS OF ECONOMICS
TMA
(Coverage: Blocks 1 to 10)
Programme Code: BDP
Course Code: EEC-11
Asst. Code: EEC-11/AST/TMA/2024-25
ENG MED

Description

EEC – 11 FUNDAMENTALS OF ECONOMICS
TMA
(Coverage: Blocks 1 to 10)
Programme Code: BDP
Course Code: EEC-11
Asst. Code: EEC-11/AST/TMA/2024-25
Maximum Marks: 100
Note: Answer all the questions.
Section- A
Long Answer Questions (Answer in about 500 words each) 2 x 20 = 40
1. (i) State the conditions to be satisfied for consumer’s equilibrium under cardinal
and ordinal approach.
(ii) What is production possibility curve (PPC)? How does a PPC provide an
economy’s menu of choices?
2. Identify the constituents of national income in three phases-production, income and
expenditure. Which methods are used to estimate national income of India.
Section-B
Medium-Answer Questions (Answer in about 250 words each) 4 x 12 = 48
3. Distinguish between positive and normative economics? In what sense is economics a
science?
4. Discuss the three stages of production. Why does the law of diminishing returns operate?
5. What is the difference between monopoly and monopolist competition? Explain the
characteristics of firm’s equilibrium under monopolistic competition.
6. (i) State the relationship between total cost and marginal cost.
(ii) From a given total cost
TC= 100+0.5q+0.4

Find out the fixed cost, average variable cost, and marginal cost.
Section C
Short Answer Questions (Answer in about 100 words each) 2 x 6 = 12
7. Distinguish between any four of the following: 2 x 3 = 6
i. Income effect and substitution effect
ii. General equilibrium and partial equilibrium
iii. Demand and Demand function
iv. Independent and dependent variables
v. Consumption function and Investment function
8. Explain any three of the followings: 2 x 3 = 6
i. Cross elasticity of Demand
ii. Marginal efficiency of capital
iii. Implicit costs
iv. Hyper inflation
v. Permanent Incom

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