Nios Economics (214) Tutor Marked Assignment 2021-22 pdf

Get Answer sheet Economics (214) Tutor Marked Assignment 2021-22 pdf file Click Here

1.  Answer any one of the following questions in about 40-60 words.

(a) “Economics is a science of scarcity and choice”. Explain.

(b) Illustrate the difference between economic and non-economic with examples.

2. Answer any one out of the following questions in about 40 to 60 words.

1. An economy is a framework where all economic activities are carried out. Explain how?
2. Distinguish between labour intensive technology and capital intensive technology.

3.Answer any one out of the following questions in about 40 to 60 words.

1. Do you agree that if the scarce resources are not utilized fully, it is wastage of resources? Comment.
2. Goods and services play an important role in an economy. Explain.

4. Answer any one out of the following questions in about 100 to 150 words.

1. How does positive economics differ from normative economics? Explain with illustrations.
2. Sahil wants to become an entrepreneur. What functions does he need to perform as an entrepreneur?

5.Answer any one out of the following questions in about 100 to 150 words.

1. State and explain the law of demand with the help of a hypothetical numerical example/
   schedule.
2. Explain the central problem of an economy with the help of an example.

6.Prepare any one project out of the following projects given below.

• Make a list of consumer and producer goods and try to explain how consumer goods
  differ from producer goods on the basis of usage
• Calculate marginal product and average product with the help of the following table.

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