Free IGNOU MEC-001/101 Important Questions 2025 Download PDF(English)
Free IGNOU MEC-001/101 Important Questions JUNE 2025 Download Pdf (English), IGNOU MEC-001/101 MICRO ECONOMIC ANALYSIS Important Questions Completed Important Questions for the current session of the Master of Arts (Economics) Program for the years 2024–2025 have been uploaded by IGNOU. Important Questions for IGNOU MEC-001/101 students can help them ace their final exams. We advise students to view the Important Questions paper before they must do it on their own.
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| Free IGNOU MEC-001/101 Important Questions 2025 Download PDF (English) |
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Free IGNOU MEC-001/101 Important Questions 2025 Download Pdf(English) MICRO ECONOMIC ANALYSIS Important Questions With Answers Download Pdf A thorough examination of India's foreign policy is covered in the Master of Business Administration Master of Arts (Economics) program at IGNOU under the course code MEC-001/101 Important facets of India's foreign policy, ties with other world powers, and international relations are covered in this course. The most crucial MEC-001/101 questions are listed below, along with their solutions, to help students study for the test.
Free IGNOU MEC-001/101 Important Questions 2025
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Section I
·
Define the production function. Explain the law of variable proportions
with suitable examples.
·
Discuss the concept of elasticity of demand. How is price elasticity
measured? Explain its types.
·
Explain the concept of consumer equilibrium using indifference curve
analysis.
·
What is the theory of costs in the short run? Explain total, average,
and marginal costs.
·
Describe the different market structures. How does price and output
determination differ under perfect competition and monopoly?
·
Explain the concept of factor pricing. Discuss the determination of
wages in a perfectly competitive labor market.
·
Discuss the concept of economic welfare. How does welfare economics
evaluate market outcomes?
·
Explain the concept of externalities. How do externalities lead to
market failure?
·
What is the theory of distribution? Discuss the marginal productivity
theory of income distribution.
·
Define public goods. Explain the free rider problem associated with
public goods.
Section II
·
Discuss the concept of consumer surplus and producer surplus. How do
they measure economic welfare?
·
Explain the concept of price discrimination. Discuss the conditions
under which a firm can practice price discrimination.
·
What is the theory of monopoly? Discuss the pricing and output decisions
under monopoly.
·
Discuss the concept of oligopoly. Explain the kinked demand curve model
of oligopoly.
·
Explain the concept of game theory. How does it apply to oligopolistic
market structures?
·
Define the term 'market failure.' Discuss the causes and possible
remedies for market failure.
·
Discuss the concept of income and substitution effects. How do they
explain the shape of the demand curve?
·
Explain the concept of economies of scale. How do economies of scale
affect the cost structure of a firm?
·
What is the role of government in correcting market failures? Discuss
the tools used by the government to address market failures.
·
Discuss the concept of consumer choice under risk. How does expected
utility theory explain consumer decisions under uncertainty?
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