NIOS Economics 214 Free Solved Assignment [TMA] 2022 – 23 (English Medium)

NIOS Free Solved Assignment  [TMA] 2022 – 2023

Economics 214 Free Solved Assignment [TMA] 2022 – 23

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In this article, you will get Economics 214 Free Solved Assignment [TMA] 2022-23. You will solved assignment of other subjects in our page nios solved assignment 202-23.

economics 214 free solved assignment


(i) All questions are compulsory. The marks allotted for each question are given beside the questions.

(ii) Write your name, enrollment numbers, AI name and subject on the first page of the answer sheet.

1. Answer any one of the following questions in about 40-60 words.        2

(a) “Economics is defined on the basis of sustainable development due to excessive misuse of resources.” Explain the statement with a suitable example.       (See Lesson-1)

Ans: Answer any one

(b) Human needs are infinite and of different types. When one need is satisfied, another need arises. List the characteristics of needs in the light of this statement.     (See Lesson-2)

Ans: Human needs are infinite and of different types. When one need is satisfied, another need arises. Some of the characteristics of needs are given below:

1. Infinite need: Human needs are unlimited. If one need is satisfied than another need arises.

2. Dynamic in nature: It is dynamic in nature. It changes with the change in environment and person’s circumstances.

3. Continuous: Human needs are continuous.

4. Subjective: Human needs are subjective as they vary from person to person.

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

(a) “Nowadays most of the countries of the world have adopted economic system which is based on the principle of profit as well as welfare of the society”. List the characteristics of an economic system on the basis of this statement.     (See Lesson -4)

Ans: Nowadays most of the countries of the world have adopted mixed economic system which is based on the principle of profit as well as welfare of the society. Some of the characteristics of mixed economy are given below:

1. Profit as well as social oriented: Such economic system is both profit as well as social welfare oriented.

2. Equal importance to both public as well as private sector: In such economy equal importance is given to both public as well as private sector.

3. Flexibility: This economic system is flexible where necessary changes can be made with changing economic environment.

(b) “The increase of resources in the economy provides the basis for meeting the increasing needs of man and also solves the central problems”. Explain the statement with a suitable example.   (See Lesson-5)

Ans: Answer any one

3. Answer any one of the following questions in about 40-60 words.       2

(a) Demand and supply play an important role in the market to determine the price of a commodity”. Examine this statement with the help of a diagrammatic representation.    (See Lesson-11)

Ans: There are two parties which bargain in such a market, the buyers and the sellers. It is only when they agree, a commodity can be bought and sold at a certain price. Thus product pricing is influenced both by buyers and sellers i.e., by demand and supply.

The demand and supply are the two forces, which move in the opposite directions. Price is determined at a point where these two forces are equal, that is known as equilibrium price.

(b) “Online shopping has become popular among customers”. In the light of this statement,with suitable examples, identify the reasons for the increase in online shopping.       (See Lesson-12)

Ans: Answer any one

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

(a) Support price is considered as an instrument of the government to protect the interests of the producers especially the farmers. Elaborate this statement with graphical representation.     (See Lesson-13)

Ans: Answer any one

(b) Visit any insurance company branch office in your area. Discuss the procedure for obtaining an insurance policy with the Insurance Executive Officer of the branch.Prepare a brief report based on the discussion.      (See Lesson-16)

Ans: I have visited SBI life branch which is very near to my house. I meet Mr. Shyam, the Insurance Executive Officer and discussed with him procedure for getting an insurance policy. I am share our discussion details here:

1. Assessing the insurance need: The first step for getting an insurance policy is to assess the insurance need of the person. Before getting an insurance policy, one must assess the type and amount of insurance he needs.

2. Information and Documentation: The next step is to gather personal as well as financial information and make necessary documents ready for getting insured.

3. Completing application: After getting necessary information and arranging proper documents, the next step is to fill the application and submit it either online or in person at the insurance office for approval.

4. Payment: After approval, the insured is required to pay necessary insurance premium. It can be paid online or can be deposited at insurance office.

5. Getting policy document: After payment, policy document will be sent to the insured address.

5. Answer any one of the following questions in about 100-150 words.       4

(a) Distinguish between perfectly competitive market, and monopoly market.      (See Lesson -12)

Ans: Perfectly Competitive Market: Perfect Competition is a form of market in which there is a large number of buyers and sellers. They sell homogeneous goods. Firm produces only a small portion of the total output produced by the whole industry.

An industry is a group of different firms producing the same product. A single firm cannot affect the price by its individual efforts. Price is fixed by the industry. Firm is only a price taker and not a price-maker. It can sell the desired output only at the price-fixed by the industry. In such a market, price of the commodity is the same at every place.

There is also free entry and exit of the firms. Both the buyers and sellers have perfect information about the prevailing price in the market. Thus perfect competition is the name given to a market in which buyers and sellers compete with one another in the purchase and sale of a commodity. No one of them has any individual influence over the price of the commodity.

Monopoly Market: Monopoly market is one in which there is only one seller of the product having no close substitutes to the commodities sold by the seller. The seller has full control over the supply of that commodity and also he is the price maker. There being only one firm, producing that product, there is no difference between the firm and industry in case of monopoly. Monopoly is a price maker not the price taker as in the case of perfect competition. Its demand curve slopes downward to the right.

Difference between Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly


Perfect competition


1. Number of Buyers and Sellers

There is large number of buyers and sellers.

There exists only one seller.

2. Competition

Presence of perfect competition in such markets.

In monopoly, there is absence of competition.

3. Product

Products are homogenous.

Monopoly may sell homogenous and differentiated products.

4. Entry or exit of firm

Freedom of entry or exit in perfect competition.

Entry of new firms in the market is restricted.

5. Elasticity

Demand is perfectly elastic.

Demand is inelastic

6. Decision making

Independent decision- making by firms.

Total freedom in decision making

10. Practicability

It is an imaginary market. It is not seen in real life.

It is rarely seen.

(b) The Indian economy has shown remarkable progressive changes in its characteristics overtime as compared to the pre-independence period. Justify the statement on the basis of the characteristics given below:

(i) Low level of per capita income.

(ii) Heavy population pressure.

(iii) Existence of Poverty,

(iv) Technological Progress.     (See Lesson-19)

Ans: Answer any one

6. Prepare any one project on the basis of information the given below:       6

(a) India is a huge country. A major part of the total population lives in rural areas where they are facing lot of problems due to unemployment, and poverty. The implementation of MGNREGA, 2005 has given a new ray of hope to get rid of such problems. Prove its relevance in the current state of the economy by preparing a project on MNREGA-2005. (See Lesson-21)

Ans: Answer any one

(b) Prepare a short project on the topic “Schemes for Primary and Secondary Education” on the basis of the following points-

(i) Sarva Siksha Abhiyan (SSA).

(ii) National programme of Mid-day meals in School.

(iii) Rashtriya Madhyamik Shiksha Abhiyan (RMSA).

(iv) Inclusive Education for the Disabled at Secondary Stage (IEDSS).

(v) Saakshar Bharat.      (See Lesson-21)

Ans: India is a big country with highest population in the world. Due to high population, poverty and illiteracy is the major problem of our country. In order to promote primary and secondary education amongst the people, government of India has taken many steps since after independence. Various schemes are launched for promotion of primary and secondary education. Some of them are discussed below:

(i) Sarva Siksha Abhiyan (SSA)

Sarva Shiksha Abhiyan (SSA) is a comprehensive and integrated flagship programme of Government of India to attain Universal Elementary Education (UEE), covering the entire country in a mission mode. SSA has been launched in 2001-2002 in partnership with the State Governments and Local Self Governments.

The programme aims to provide useful and relevant, elementary education to all children in the 6 to 14 age group by 2010. It is an initiative to universalize and improve quality of education through decentralized and context specific planning and a process based, time bound implementation strategy.

The programme lays emphasis on bridging all gender and social category gaps at elementary education level with time bound objectives. On one hand, SSA is a programme with its own targets, norms and processes and on the other it is an umbrella programme covering other programmes like District Primary Education Programme (DPEP), Lok Jumbish, Operational Blackboard, etc. The gigantic dimensions of the programme and the financial implications call for a meticulous planning and a rigorous appraisal

(ii) National programme of Mid-day meals in School

The National Programme of Nutritional Support to Primary Education (NP-NSPE) which is popularly known as the Mid-day Meal Scheme was launched by the Government of India in 1995. NP-NSPE states that it aims to address “classroom hunger” and encourage poor children, belonging to disadvantaged sections, to attend school regularly and help them concentrate on classroom activities.

The mid-day meal programme is a multi-faceted programme of the Government of India that, among other things, also seeks to address issues of food security, lack of nutrition and access to education on a nationwide scale. The Scheme is the world’s largest school feeding programme reaching out to about 12 crore children in over 12.65 lakh schools/EGS centres across the country.

(iii) Rashtriya Madhyamik Shiksha Abhiyan (RMSA)

This scheme was launched in March, 2009 with the objective to enhance access to secondary education and to improve its quality. The implementation of the scheme started from 2009-10. It is envisaged to achieve an enrollment rate of 75% from 52.26% in 2005-06 at secondary stage of implementation of the scheme by providing a secondary school within a reasonable distance of any habitation.

The other objectives include improving quality of education imparted at secondary level through making all secondary schools conform to prescribed norms, removing gender, socio-economic and disability barriers, providing universal access to secondary level education by 2017, i.e., by the end of 12th Five Year Plan and achieving universal retention by 2020.

(iv) Inclusive Education for the Disabled at Secondary Stage (IEDSS)

The Scheme of Inclusive Education for Disabled at Secondary Stage (IEDSS) has been launched from the year 2009-10. This Scheme replaces the earlier scheme of Integrated Education for Disabled Children (IEDC) and provides assistance for the inclusive education of the disabled children in classes IX-XII. This scheme now subsumed under Rashtriya Madhyamik Shiksha Abhiyan (RMSA) from 2013. The States/UTs are also in the process of subsuming under RMSA as RMSA subsumed Scheme.


To enabled all students with disabilities, to pursue further four years of secondary schooling after completing eight years of elementary schooling in an inclusive and enabling environment.


The scheme covers all children studying at the secondary stage in Government, local body and Government-aided schools, with one or more disabilities as defined under the Persons with Disabilities Act (1995) and the National Trust Act (1999) in the class IX to XII, namely blindness, low vision, leprosy cured, hearing impairment, locomotory disabilities, mental retardation, mental illness, autism, and cerebral palsy and may eventually cover speech impairment, learning disabilities, etc. Girls with the disabilities receive special focus to help them gain access to secondary schools, as also to information and guidance for developing their potential. Setting up of Model inclusive schools in every State is envisaged under the scheme.

(v) Saakshar Bharat        

Saakshar Bharat Mission is a government of India initiative launched by Prime Minister Dr. Manmohan Singh to create a literate society through a variety of teaching learning for non-literate of 15 years and above. It was lunched on the international literacy day 8th September 2009 but it came into implementation with effect from 1st October 2009. The programme further promotes and strengthens adult education, especially for women, by extending education option to those adults who had lost the opportunity of access to formal education and crossed the standard age for receiving such education.

So, Finally you reached the end of the post. Hope you like Economics 214 Free Solved Assignment [TMA] 2022-23. You will solved assignment of other subjects in our page nios solved assignment 202-23. Visit Official website of NIOS for details about assignment.


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