CUET UG 2023 — Micro

A Consumer's total utility level being the same, the amount of good 'X' that the consumer has to forego, in order to get an additional unit of good Y is termed as :

A good that is considered to be inferior to a consumer, may be observed as normal good to the another consumer. This is due to

A rational consumer is the one who has :

All the points on Indifference curve represent :

"An enquiry into the nature and cause of the wealth of Nations" is authored by :

An explanation for a downward sloping demand curve rests on the notion of :

Arrange the following of elasticities of demand in increasing order as per geometric method. A. Mid-Point of the demand curve B. Intercept on Y-axis C. Between Mid-Point and intercept on X-axis D. Between Mid-Point and intercept on Y-axis E. Intercept on X-axis Choose the correct answer from the options given below:

Car and petrol are the example of _________ goods .

Distribution of output relates to which central problem of an Economy ?

Elasticity of Demand is given by the formula.

For a given demand function Y = 50 - 2P, the quantity demanded at P = Rs. 20 is :

__________ gives rise to the problem of choice.

How will the earthquake in Turkey affect the production possibility curve of their economy?

Identify normative statements from the following : (A) India has a high population (B) India should keep a control on population growth rate (C) High population hampers growth of any country (D) India should have more equitable distribution Choose the correct answer from the options given below :

Identify the impact of unemployment on PPC (Production Possibility Curve).

If ratio between the change in price & change in quantity demanded is 0.25. The consumer demands 100 units at an initial price of Rs 10 per unit. Calculate the price elasticity of demand.

If the budget line is tangent to an indifference curve at a point, absolute value of the MRS and the Budget line are __________ at that point.

If the price of coffee increases then consumption of tea also increases it implies that tea and coffee are __________ .

In a market Economy; prices are determined by :

In the Linear Demand Curve AB, the elasticity of demand ($e_D$) at point D can be measured geometrically by the formula __________. 

Increase in demand refers to :

"Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to.

Match List - I with List - II. | List - I | List - II | |---|---| | (A) Indifference curve | (I) Shows various combination of two goods that give the same utility to the consumer | | (B) Production possibility curve | (II) Shows various combination of two goods that can be produced by an economy | | (C) Budget line | (III) Shows various combination of two goods that can be purchased by the consumer | | (D) Demand curve | (IV) Shows inverse relationship between price of the given commodity & its quantity demanded | Choose the correct answer from the options given below :

Savita consumes 2 goods X and Y. If marginal utility of X is 30 utils and that of Y is 45 utils. Prices of both goods X and Y are Rs. 3 and Rs. 5 respectively. Savita will consume ________.

Suppose an Individual buys 15 units of good when its price is Rs 5 per unit. What will happen to his demand when price of the good increases to Rs 7 per unit and elasticity of demand for the good is 0.5

The demand for a good moves in opposite direction if change in the price of its __________ :

The goods which can be used in place of each other are called ?

The indifference curve is :

Those goods which can be used together are called _______ goods .

Which central problem deals with choice of technology to be used for production ?

Which is an example of substitute good ?

Which of the following inequality represents the consumer's budget constraint ?

Which of the following is not a central problem of an economy?

Which of the following is not correct statement ?

Which of the following is studied under micro economics?

Which of the following statements correctly describes the nature of indifference curve ? (A) Indifference curve slopes downwards from left to right (B) A lower indifference curve represents lower cost to consumer (C) A higher indifference curve gives higher level of satisfaction (D) Two indifference curves never intersect each other (E) Indifference curves are always parallel to each other Choose the correct answer from the options given below :

Which of the main factor is responsible to create economic problems in society?

Which statement is not related to Normative Economics?