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    Assignment 2019-20: School of Social Sciences Indira Gandhi National Open University Maidan Garhi, New Delhi-110068

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    Rohin Joshi
    This document provides instructions for a tutor marked assignment (TMA) for the course Fundamentals of Economics (EEC-11). The TMA is divided into three sections. Section A contains two long answer questions worth 20 marks each. Section B contains four medium answer questions worth 12 marks each. Section C contains two short answer questions worth 6 marks each. Students must answer all questions. The completed TMA should be submitted by March 31, 2020 for the June 2020 exam or September 30, 2020 for the December 2020 exam.

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    Assignment 2019-20: School of Social Sciences Indira Gandhi National Open University Maidan Garhi, New Delhi-110068

    Uploaded by

    Rohin Joshi
    64 views4 pages
    This document provides instructions for a tutor marked assignment (TMA) for the course Fundamentals of Economics (EEC-11). The TMA is divided into three sections. Section A contains two long answer questions worth 20 marks each. Section B contains four medium answer questions worth 12 marks each. Section C contains two short answer questions worth 6 marks each. Students must answer all questions. The completed TMA should be submitted by March 31, 2020 for the June 2020 exam or September 30, 2020 for the December 2020 exam.

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    EEC 011 2019-20 English

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    This document provides instructions for a tutor marked assignment (TMA) for the course Fundamentals of Economics (EEC-11). The TMA is divided into three sections. Section A contains two long answer questions worth 20 marks each. Section B contains four medium answer questions worth 12 marks each. Section C contains two short answer questions worth 6 marks each. Students must answer all questions. The completed TMA should be submitted by March 31, 2020 for the June 2020 exam or September 30, 2020 for the December 2020 exam.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    64 views4 pages

    Assignment 2019-20: School of Social Sciences Indira Gandhi National Open University Maidan Garhi, New Delhi-110068

    Uploaded by

    Rohin Joshi
    This document provides instructions for a tutor marked assignment (TMA) for the course Fundamentals of Economics (EEC-11). The TMA is divided into three sections. Section A contains two long answer questions worth 20 marks each. Section B contains four medium answer questions worth 12 marks each. Section C contains two short answer questions worth 6 marks each. Students must answer all questions. The completed TMA should be submitted by March 31, 2020 for the June 2020 exam or September 30, 2020 for the December 2020 exam.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    EEC-11

    Bachelor’s Degree Programme


    (BDP)

    ASSIGNMENT
    2019-20

    Course Code: EEC-11


    Title of Course: Fundamentals of Economics

    School of Social Sciences


    Indira Gandhi National Open University
    Maidan Garhi, New Delhi-110068
    EEC-11
    FUNDAMENTALS OF ECONOMICS
    Assignment (TMA)
    2019-20

    Programme Code: BDP


    Course Code: EEC-11

    Dear Student,

    As explained in the Programme Guide for BDP, you will have to do one assignment for this Elective
    course in Economics (EEC-11). This is a Tutor Marked Assignment (TMA) and carries 100 marks.

    It is important that your write answers to all the questions in your own words. The TMA is designed to
    enable you to answer different categories of questions. Here evaluation is made keeping in view your
    ability to present your answer in a systematic, precise and coherent manner. The assignment is divided
    into three Sections. Remember that all questions are compulsory. Section A comprises two long answer
    questions of 20 marks each. Section B comprises four questions of 12 marks each while in Section C you
    have to answer two questions of 6 marks each.

    Submission: The completed assignments should be submitted to the Coordinator of your Study Centre.

    Last date for submission of assignment is

    31st March, 2020 for the students appearing in the June 2020 Term End Examination
    30th September, 2020 for the students appearing in December 2020 Term End Examination

    2
    EEC-11

    FUNDAMENTALS OF ECONOMICS
    TMA
    (Coverage: Blocks 1 to 9)
    Programme Code: BDP
    Course Code: EEC-11
    Asst.Code: EEC-11/AST-1(TMA)/2019-20
    Maximum Marks: 100
    Note: Answer all the questions.
    Section-A

    Long Answer Questions (Answer in about 500 words each) 15x 2=30

    1. (a) What is the distinction between increase in demand and expansion of demand?
    Explain the various methods to measure the elasticity of demand. (10)

    (b) Given the demand function (5)


    qd = 650 – 5P – P2 where P = 10,
    Find out the price elasticity of demand.

    2. (a) What is National Income? How equilibrium level of income is determined? What
    causes changes in equilibrium level of income? (10)

    (b) Given the following equations (5)


    S = -70 + 0.25Yd
    Yd = Y – T
    I = I0 = 40
    G = G0 = 30
    T = T0 = 20
    Find out the equilibrium level of income.

    Section –B

    Medium-Answer Questions (Answer in about 250 words each) 10x 5=50

    3. What do you mean by production function? Explain with diagram the three stages of
    production under fixed and variable proportion in production. Why does law of
    diminishing returns operate?

    3
    4. Find the equilibrium price and the quantity for the market whose quantity demanded
    and quantity supplied are given below:
    Qd = 220 – 5P
    Qs = -20 + 3P.

    5. What is price discrimination? Explain how will a profit maximizing monopolist distribute
    output in different markets?

    6. What are the determinants of demand for money? Explain the Keynesian version in this
    regard.

    7. Do you think that individual labour supply curve is backward bending? Give reasons for
    your answer.

    Section – C

    Short Answer Questions (Answer in about 100 words each) 10x 2=20

    8. Distinguish between any two of the followings:


    i. General equilibrium and partial equilibrium
    ii. Stock and flow variable
    iii. Positive economics and normative economics
    iv. Economic growth and economic development

    9. Explain any three of the followings:


    i. Economic agents
    ii. Multiplier
    iii. Hyperinflation
    iv. Bond Market
    v. Marginal revenue
    vi. Transfer earnings

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