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IGNOU BECC 131 Solved Assignment 2022-23

IGNOU BECC 131 Solved Assignment 2022-23 , BECC 131 PRINCIPLES OF MICROECONOMICS – I Solved Assignment 2022-23 Download Free : BECC 131 Solved Assignment 2022-2023 , IGNOU BECC 131 Assignment 2022-23, BECC 131 Assignment 2022-23 , BECC 131 Assignment , BECC 131 PRINCIPLES OF MICROECONOMICS – I Solved Assignment 2022-23 Download Free IGNOU Assignments 2022-23- BACHELOR OF ARTS Assignment 2022-23 Gandhi National Open University had recently uploaded the assignments of the present session for BACHELOR OF ARTS Programme for the year 2022-23. Students are recommended to download their Assignments from this webpage itself. Study of Political Science is very important for every person because it is interrelated with the society and the molar values in today culture and society. IGNOU solved assignment 2022-23 ignou dece solved assignment 2022-23, ignou ma sociology assignment 2022-23 meg 10 solved assignment 2022-23 ts 6 solved assignment 2022-23 , meg solved assignment 2022-23 .

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IGNOU BECC 131 Solved Assignment 2022-23

We provide handwritten PDF and Hardcopy to our IGNOU and other university students. There are several types of handwritten assignment we provide all Over India. BECC 131 PRINCIPLES OF MICROECONOMICS – I Solved Assignment 2022-23 Download Free We are genuinely work in this field for so many time. You can get your assignment done – 8130208920

Important Note – IGNOU BECC 131 Solved Assignment 2022-2023  Download Free You may be aware that you need to submit your assignments before you can appear for the Term End Exams. Please remember to keep a copy of your completed assignment, just in case the one you submitted is lost in transit.

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Submission Date :

  • 31st March 2033 (if enrolled in the July 2033 Session)
  • 30th Sept, 2033 (if enrolled in the January 2033 session).

Answer the following Descriptive Category questions in about 500 words each. Each question carries 20 marks. Word limit does not apply in case of numerical questions in Assignment One.

Answer the following Middle Category questions in about 250 words each. Each question carries 10 marks. Word limit does not apply in case of numerical questions in Assignment Two.

Answer the following Short Category questions in about 100 words each. Each question carries 6 marks in Assignment Three.

Answer all the questions.

Assignment One


1. Using appropriate diagrams discuss the rationale behind rationing system for allocation of scarce resources? What are the consequences associated with the rationing system?

Rationing, government policy consisting of the planned and restrictive allocation of scarce resources and consumer goods, usually practiced during times of war, famine, or some other national emergency.

Rationing may be of several types. Informal rationing, which precedes the imposition of formal controls, may consist of admonitions to consumers to reduce their consumption or of independent action taken by suppliers in allocating scarce supplies. Rationing according to use prohibits the less important uses of a commodity. Rationing by quantity may limit the hours during which the commodity is available or may assign quotas of a commodity to all known and approved claimants. Rationing by value limits the amount consumers may spend on commodities that cannot be standardized, consumers being allowed to make their own selections within the value limits imposed. Point rationing assigns a point value to each commodity and allocates a certain number of points to each consumer; this system is employed during periods of critical and increasing shortages when individuals begin substituting unrationed for rationed items, thereby spreading shortages.

Consumers in a rationed economy are usually exhorted to save by purchasing government bonds or by increasing their deposits in savings banks so that unspent money will not be used for increased purchases of unrationed items or for purchases on the black market.

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The problem is that for some goods and services—food, fuel, and medical care—demand is inelastic; that is, it does not fall in proportion to increases in price. Moreover, the entry of new suppliers to rebalance markets may not be possible if the shortage is the result of a crop failure, war, natural disaster, siege, or embargo. While not ideal, rationing is often undertaken by governments that would otherwise be facing an even bigger economic crisis.

Rationing to Combat Shortages

Many capitalist economies have temporarily resorted to rationing in order to cope with wartime or disaster-related shortages: the U.S. and Britain issued ration books during World War II, for example, limiting the quantities of tires, gasoline, sugar, meat, butter, and other goods that could be purchased.

In communist countries, by contrast, rationing was in many cases a permanent or semi-permanent feature of daily life. In Cuba in 2019, a ration book entitled an individual to small amounts of rice, beans, eggs, sugar, coffee, and cooking oil for the equivalent of a few cents in the United States.

Since that is not enough to survive, Cubans must purchase additional supplies on the open market, where the price of rice is around 20 times higher. Additionally, there are limits on the number of higher-quality items Cubans can purchase on the open market, such as chicken.

Cuba has implemented rationing as a way of mitigating the impact of an economic crisis; citizens are entitled to small amounts of basic food for almost no charge, while everything else is pricey and supplies are limited.
Risks of Rationing

Rationing provides governments with a way to constrain demand, regulate supply, and cap prices, but it does not totally neutralize the laws of supply and demand. Black markets often spring up when rationing is in effect. These allow people to trade rationed goods they may not want for ones they do.

Black markets also allow people to sell goods and services for prices that are more in line with demand, undermining the intent of rationing and price controls, but sometimes alleviating shortages.


2. (a) Consider a consumer earning income M and facing a choice between two commodities X and Y available at price PX and PY, respectively. Using appropriate diagrams with plotting good X and Y on the horizontal and vertical axis, respectively, bifurcate the price effect into substitution and income effect in case the price of good Y increases from PY to PY’ and the fact that both the commodities are normal goods.

(b) Consider a consumer who has to choose between two normal goods A and B. Initially his income is Rs 10, and the per unit price of good A and good B is Rs 2 and Rs 3, respectively. Now, assume income of the consumer increases to Rs 20, the price of good A rises to Rs 3 and that of good B rises to Rs 4.50. What will be the impact of this change on the demand of the two goods?


Assignment Two


3. (a) Given that a firm experiences a linear homogenous production function, comment
upon the shape of the Expansion path, both in the long run and in the short run.

(b) Consider the following Table which gives total cost schedule of a firm. Given that the average fixed cost of producing 2 units of output is Rs. 10. Find the total variable cost, total fixed cost, average variable cost, average fixed cost, short-run average cost, and short-run marginal cost schedules of the firm for the corresponding values of output.

4. (a) With respect to the demand and supply analysis, discuss the Walrasian equilibrium and the Walrasian stability condition.

(b)The income elasticities of demand of two goods, X and Y are + 3.0 and − 0.2, respectively. Assuming income rises by 5 per cent. What will be the respective change in the quantities demanded of good X and good Y?

(c) How can the cross-price elasticity of demand be used to identify the relationship
between any two goods?

5. (a) Draw a concave Production Possibility curve. What does the downward slope and the concavity of the curve imply?
(b)Mark in the same figure, a production combination which is:

(i) feasible and not efficient, and
(ii) both feasible and efficient.

(c) What could bring a leftward shift in the production possibility curve?


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Assignment Three


6. Explain the Law of diminishing marginal utility. In what case(s) this law may not apply?

7. Scarcity is the root cause for all Economic problems. Do you agree? Elaborate.

8. What are the reasons behind varying returns viz., increasing, constant and decreasing returns to a factor in production?

9. Discuss the shape of Input-output Isoquants. 

10. Differentiate between
(i) Internal Economies and Internal Diseconomies of Scale. 
(ii) Public good and Merit good


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IGNOU Instructions for the BECC 131 PRINCIPLES OF MICROECONOMICS – I Solved Assignment 2022-23

IGNOU BECC 131 Solved Assignment 2022-2023 Download Free  Before attempting the assignment, please read the following instructions carefully.

  1. Read the detailed instructions about the assignment given in the Handbook and Programme Guide.
  2. Write your enrolment number, name, full address and date on the top right corner of the first page of your response sheet(s).
  3. Write the course title, assignment number and the name of the study centre you are attached to in the centre of the first page of your response sheet(s).
  4. Use only foolscap size paperfor your response and tag all the pages carefully
  5. Write the relevant question number with each answer.
  6. You should write in your own handwriting.



GUIDELINES FOR IGNOU Assignments 2022-23

IGNOU BECC 131 Solved Assignment 2022-23 You will find it useful to keep the following points in mind:

  1. Planning: Read the questions carefully. IGNOU BECC 131 Assignment 2022-23 Download Free Download PDF Go through the units on which they are based. Make some points regarding each question and then rearrange these in a logical order. And please write the answers in your own words. Do not reproduce passages from the units.
  2. Organisation: Be a little more selective and analytic before drawing up a rough outline of your answer. In an essay-type question, give adequate attention to your introduction and conclusion. IGNOU BECC 131 Solved Assignment 2022-2023 Download Free Download PDF The introduction must offer your brief interpretation of the question and how you propose to develop it. The conclusion must summarise your response to the question. In the course of your answer, you may like to make references to other texts or critics as this will add some depth to your analysis.
  3. Presentation: IGNOU BECC 131 Solved Assignment 2022-2023 Download Free Download PDF Once you are satisfied with your answers, you can write down the final version for submission, writing each answer neatly and underlining the points you wish to emphasize.

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BECC 131 Handwritten Assignment 2022-23

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