CUET Economics PYQs

Match List-I with List-II

List-I	List-II
(A) Cardinal utility	(I) Ranking consumption bundles.
(B) Perfect substitute goods	(II) Level of utility can be expressed in numbers.
(C) Ordinal Utility	(III) The marginal Rate of Substitution is 1.
(D) Complimentary goods	(IV) An increase in the price of one good does not lead to an increase in demand for another good.

Choose the correct answer from the options given below:

1. (A) - (I), (B) - (IV), (C) - (III), (D) - (II)
2. (A) - (II), (B) - (III), (C) - (I), (D) - (IV)
3. (A) - (I), (B) - (IV), (C) - (II), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Match List-I with List-II

List-I	List-II
(A) Analysis assumes that level of utility can be expressed in numbers.	(I) Cardinal Utility
(B) Change in total utility due to consumption of one additional unit of a commodity	(II) Law of Diminishing Marginal Utility.
(C) Marginal utility from consuming each additional unit of a commodity declines as its consumption increases.	(III) Marginal Utility
(D) The amount of mangoes that the consumer has to forego in order to get an additional banana, her total utility level being the same.	(IV) Marginal rate of substitution

Choose the correct answer from the options given below:

The equation of the demand curve : pq = e, where e is a constant.

Select the INCORRECT statement:

1. The demand curve is a rectangular hyperbola.
2. The value of p times q is constant.
3. The elasticity of demand at all points located on this demand curve is greater than 1.
4. At every point of consumption, the expenditure remains the same.