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Economic Theory

Bachelor’s Degree Programme
(BDP)
ASSIGNMENT
2015-16
Elective Course in Commerce
ECO – 06: Economic Theory
For July 2015 and January 2016 admission cycle
School of Management Studies
Indira Gandhi National Open University
Maidan Garhi, New Delhi -110 068
ECO - 06
Elective Course in Commerce
ECO – 06: Economic Theory
ASSIGNMENT- 2015-16



Dear Students,
As explained in the Programme Guide, you have to do one Tutor Marked Assignment in this Course.
The assignment is given 30% weightage in the final assessment. To be eligible to appear in the Term-end examination, it is compulsory for you to submit the assignment as per the schedule. Before attempting the assignments, you should carefully read the instructions given in the Programme Guide.
This assignment is valid for two admission cycles (July 2015 and January 2016). The validity is given below:
1. Those who are enroled in July 2015, it is valid up to June 2016.
2. Those who are enroled in January 2016, it is valid up to December 2016.
You have to submit the assignment of all the courses to The Coordinator of your Study Centre. For appearing in June Term-End Examination, you must submit an assignment to the Coordinator of your study centre latest by 15th March. Similarly for appearing in December Term-End Examination, you must submit assignments to the Coordinator of your study centre latest by 15th September.
TUTOR MARKED ASSIGNMENT



Course Code: ECO - 06
Course Title: Economic Theory
Assignment Code: ECO – 06/TMA/2015-16
Coverage: All Blocks
Maximum Marks: 100



Attempt all the questions.
1. Describe the law of equi-marginal utility. Explain it with the help of a diagram. How does a consumer attain equilibrium?(20)
2. What do you mean by Elasticity of Demand? How would you measure the price Elasticity of Demand?(20)
3. What do you understand by production possibility curve? Illustrate it with the help of a suitable example.(20)
4. Explain a firm’s short period equilibrium under perfect competition with the help of the suitable diagram.(20)
5. Write short notes on the following:
(a) Cardinal approach to utility
(b) Quasi rest
(c) Extension of demand
(d) Competitive wages
(4×5)

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