An increase in the price of socks is likely to decrease the demand for shoes and a decrease in the price of socks is likely to increase the demand…
CUET UG 2025 — Economics Micro
An increase in the price of socks is likely to decrease the demand for shoes and a decrease in the price of socks is likely to increase the demand for shoes. Socks and shoes are:
Held on 27 May 2025 · Verified 13 Jul 2026.
Options
- A
Giffen goods.
- B
Substitutes goods.
- C
Complementary goods.
- D
Inferior goods.
Did you get this right?
Sign in to track your attempts and accuracy.
Your note
Sign in to keep a private note on this question. Nothing you write is ever public.
CUET UG Micro in other years
More CUET UG Micro questions
The point on the supply curve at which a firm earns only normal profit is called ...........
The price and quantity demanded are __________
Select the INCORRECT feature of the market with respect to perfect competition. 1. The market consists of a large number of buyers and sellers. 2. Entry into the market as well as exit from the market are free for firms. 3. Buyers are price makers. 4. There is perfect knowledge.
The allocation of scarce resources and the distribution of the final goods and services are the _____ of any economy. 1. States problems 2. Consumption problems 3. Central problems 4. Production problems
Any allocation of resources by the society would result in the _____ of a particular combination of different goods and services.
Other Economics topics for CUET UG
Keep practicing Micro
Work through every CUET UG Micro PYQ, year by year.