CUET UG 2023 — Micro

In a market Economy; prices are determined by :

Car and petrol are the example of _________ goods .

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.

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

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:

Which statement is not related to Normative Economics?

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

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

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 :

Which of the following is studied under micro economics?

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

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

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

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

All the points on Indifference curve represent :

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

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

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 :

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

The indifference curve is :

Which is an example of substitute good ?

A rational consumer is the one who has :

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

Elasticity of Demand is given by the formula.

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

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

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

Increase in demand refers to :

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

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

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 :

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.

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

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 ________.

__________ gives rise to the problem of choice.

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 :

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

Which of the following is not correct statement ?