CUET Asked Important Questions Of Economics

Important Questions Of Economics For CUET

CUET Economics Important Questions: According to the National Test Agency, the CUET Exam 2022 will be held in July (NTA). CUET is divided into three sections: language tests, domain-specific tests, and general tests. Only domain-specific courses are included in Section 2 of the CUET exam. Economics is included in this section. So, today we will cover economics subject. Here we will provide you with a list of CUET important questions for Economics.

CUET Economics Unit Wise Syllabus

The CUET Economics Syllabus is divided into two large parts. Among these two parts, each section has multiple sub-sections that are practically equally important in the article. Introduction to macroeconomics and Indian economic growth are the topics. All of the components are interconnected in some fashion. To understand these concepts thoroughly and efficiently, a student should study each of them in the CUET economics course. Each of these areas should be given the same amount of attention and effort by the candidate.

Unit	Topic
Unit I: Introduction to Microeconomics	• What is microeconomics? • Central problems
Unit II: Consumer Behaviour and Demand	• Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two commodity cases. • Demand: market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in the demand curve, price elasticity of demand, measurement of price elasticity of demand – percentage, total expenditure, and geometric methods
Introductory Macroeconomics
Unit III: National Income and Related Aggregates — Basic Concepts and Measurement	Macroeconomics: meaning. • Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost). • Measurement of National Income –Value Added method, Income method, and Expenditure method.
Unit IV: Determination of Income and Employment
Unit V: Money and Banking
Unit VI: Government Budget and the Economy
Unit VII: Balance of Payments	• Foreign exchange rate – meaning (fixed and flexible), merits and demerits; determination through demand and supply • Balance of payments accounts – meaning and components • A brief analysis of recent exchange rate issues
Indian Economic Development
Unit VIII: Development Experience (1947-90) and Economic Reforms since 1991
Unit IX: Current challenges facing the Indian Economy	Poverty – absolute and relative; Main programs for poverty alleviation: A critical assessment; Human Capital Formation – How many people become resource; Role of human capital in economic development; Rural development: Key issues – credit and marketing – the role of cooperatives; agricultural diversification; Employment: Growth and changes in the workforce participation rate in formal and informal sectors; problems and policies Infrastructure: Meaning and Types: Cases Studies: Health: Problems and Policies – A critical assessment; Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
Unit X: Development Experience in India	A comparison with neighbors · India and Pakistan · India and China · Issues: economic growth, population, sectoral development, and other Human Development Indicators

Asked Important Economics Questions For CUET 

Q1. What is the shape of the Keynes Aggregate Supply before the level of full employment is attained?

(a) Perfectly inelastic

(b) Perfectly elastic

(c) Unitary elastic

(d) More elastic

 

Q2. What is a fiscal measure of correcting deficient demand?

(a) Increase in public expenditure and decrease in taxes

(b) Decrease in public debt

(c) Deficit financing

(d) All of these

 

Q3. What will be APC when APS = 0?

(a) 1

(b) 0

(c) 2

(d) Infinite

 

Q4. If the income is ₹ 400 crores and consumption is ₹ 250 crores, what will be the APC?

(a) 0.67

(b) 0.63

(c) 0.60

(d) 0.58

 

Q5. If for a country net factor income from abroad is negative then:

(a) GDP < GNP

(b) GDP > GNP

(c) GDP ≥ GNP

(d) GDP = GNP

 

Q6. Which is the measure of correcting excess demand?

(a) Deficit financing

(b) Reduction in taxes

(c) Increase in public expenditure

(d) Increase in public debt

 

Q7. The market value of all final goods and services produced in an economy over a year is called:

(a) Gross National Product

(b) National Income

(c) Gross Domestic Product

(d) Net National Product

 

Q8. Which of the following is correct?

(a) Disposable Income = Personal Income – Direct Taxes

(b) Disposable Income = Private Income – Direct Taxes

(c) Disposable Income = Personal Income – Indirect Taxes

(d) Disposable Income = Private Income – Indirect Taxes

 

Q9. Which service is included in Tertiary Sector?

(a) Mining

(b) Construction

(c) Communication

(d) Animal Husbandry

 

Q10. What is the consumption of fixed capital called?

(a) Capital formation

(b) Depreciation

(c) Investment

(d) All of these

 

Q11. For a four sectors or open economy the condition for equilibrium is:

(a) Savings + taxes + Imports = Investment + got, expenditure + exports

(b) Total Leakages = Total Injections

(c) Aggregate output = Aggregate Expenditure

(d) All of these

 

Q12. Net National Income at Factor Cost is called?

(a) National Income

(b) Gross Investment

(c) Domestic Income

(d) None of these

 

Q13. The market price of all final goods of a country in a year is known as:

(a) GDPMP

(b) GDPFC
(c) NNPFC

(d) None of these

 

Q14. Which one is included in the four-sector model?

(a) Family, Firm, Industry

(b) Family, Firm, Government

(c) Family, Firm, Government, Foreign Sector

(d) None of the above

 

Q15. What are the advantages of Barter System?

(a) Simple System

(b) More Mutual Co-operation

(c) No Economic Disparities

(d) All the above

 

Q16. Which one is included in the three-sector model?

(a) Family

(b) Firm

(c) Government

(d) All of these

 

Q17. What are the necessary conditions of Barter System?

(a) Limited Needs

(b) Limited Exchange Area

(c) Economically Backward Society

(d) All the above

 

Q18. “Money is a pivot around which the whole economy clusters.” Who said it?

(a) Keynes

(b) Robertson

(c) Marshall

(d) Hawtrey

 

Q19. Which is the correct order of money evolution?

(a) Commodity Money, Paper Money, Metal Money

(b) Commodity Money, Metal Money, Paper Money, Credit Money

(c) Credit Money, Metal Money, Paper Money

(d) None of the above

 

Q20. The Tata Iron and Steel Company (TISCO) were incorporated in:

(a) 1807

(b) 1870

(c) 1907

(d) 1970

 

Q21. “Money is what money does.” Who said it?

(a) Hartley Withers

(b) Hawtrey

(c) Thomas

(d) Keynes

 

Q22. Which of the following are ‘land tenure systems?

(a) Zamindari system

(b) Mahalwari system

(c) Rotwari system

(d) All of the above

 

Q23. What is ‘per capital income’?

(a) Gross income

(b) Net income

(c) Average income

(d) None of the above

 

Q24. When was the planning commission set up?

(a) 1949

(b) 1950

(c) 1956

(d) 1850

 

Q25. One of the following was high during the British rule over India:

(a) Literacy rate

(b) Female literacy rate

(c) Infant mortality rate

(d) Life expectancy

 

Q26. Whose estimate of national income was considered very significant?

(a) Debadhai Naroji

(b) William Digby

(c) RC Desai

(d) VKRV Rao

 

Q27. The Industrial policy which worked till 1990 was adopted in:

(a) 1948

(b) 1951

(c) 1956

(d) 1961

 

Q28. The licensing policy aimed at:

(a) Promoting regional equality

(b) Check undue expansion of industrial sector

(c) Both a) and b)

(d) None of the above

 

Q29. The first five year plan was launched for a period from _

(a) 1948 – 1953

(b) 1959 – 1954

(c) 1951 – 1956

(d) 1955 – 1960

 

Q30. Agriculture sector contributed _ percent to the GDP in 1990-91.

(a) 24.6

(b) 34.9

(c) 40.5

(d) 59.0

 

Q31. What is the investment limit in small scale industries?

(a) 50 lakh

(b) 1 core

(c) 25 lakh

(d) 75 core

 

Q32. Which of the following refers to relaxation of previous government restrictions?

(a) Privatization

(b) Globalization

(c) Disinvestment

(d) Liberalization

 

Q33. WTO was established in the year____

(a) 1995

(b) 1948

(c) 1996

(d) 1994

 

Q34. In the year ___________ Indian Government made free and compulsory education for age group of 6 – 14 years.

(a) 2001

(b) 2009

(c) 2003

(d) 2007

 

Q35. When was VAT introduced in most of the States of India?

(a) 1995

(b) 2001

(c) 2005

(d) 2006

 

Q36. Which organization collects data on poverty in India?

(a) NSSO

(b) SJSRY

(c) MGNERGA

(d) None of these

 

Q37. The expenditure by the government on education is expressed as:

(a) Percentage of total government expenditure

(b) Percentage of GDP

(c) Percentage of National Income

(d) Both a) nor b)

 

Q38. Estimation of Poverty in rural economies is at per day consumption of calories:

(a) Less than 2200

(b) Less than 2100

(c) Less than 2400

(d) Less than 2000

 

Q39. In India, which of the following organizations regulates the health sector?

(a) ICMR

(b) UGC

(c) AICTE

(d) None of these

 

Q40. Which one of the following is an indicator of educational achievement in a country?

(a) Youth Literacy Rate

(b) Adult Literacy Rate

(c) Primary Completion Rate

(d) All of these

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