Macro

National Income

Easy

__________ refer to the benefits (or harms) a firm or an individual causes to another for which they are not paid (or penalised).

Consumer price index

Non monetary exchanges

Externalities

Distribution of GDP

✅ Correct Option: 3

Externalities are the benefits or costs that affect parties not directly involved in a transaction and for which no compensation is paid or penalty imposed. They can be positive (like a well-maintained garden benefiting neighbours) or negative (like factory pollution harming residents). This is a limitation of GDP as a welfare measure.

2025: 31 May Shift 1

Calculate Gross Domestic Product at market price (GDP $_{MP}$ ).

Rs. 3500 crores
Rs. 3137 crores
Rs. 3140 crores
Rs. 3000 crores

2025: 14 May Shift 1

NNP at market prices – (Indirect taxes – Subsidies) = .............

2025: 3 June Shift 1

Identify the scenario which would lead to an increase in GDP, but might not necessarily improve overall welfare?

2025: 29 May Shift 1

Which of the following goods undergo wear and tear, thus gradually replaced over time?

2026: 12 May Shift 1

Which of the following can be categorized as a stock varaible?

2023: 30 May Shift 1

The Household receive transfer payments from Government and firms (Pension, Scholarship, Prizes, etc.) They are a part of :

__________ refer to the benefits (or harms) a firm or an individual causes to another for which they are not paid (or penalised).

Solution

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CUET Economics Past Year Questions (Topic-Wise)