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CUET Economics 2023 PYQs20 June Shift 1. Free, no login required.

Micro

past year questions, CUET Economics 2023 20 June Shift 1

Introduction

past year questions, Micro, CUET Economics 2023 20 June Shift 1

Easy

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

Solution

✅ Correct Option: 3

The fundamental economic problem arises from the combination of unlimited human wants and scarce (limited) resources that have alternative uses. This scarcity forces choice, giving rise to the central problems of what, how and for whom to produce. Hence 'unlimited wants and scarce resources' is the root cause.

Related questions:

2022: 15 July Shift 2

Match List I with List II

List I: Economic issueList II: Refers to
A. ScarcityI. Based on facts
B. Normative statementII. Central problem of an economy
C. Positive statementIII. Problem of choice
D. What to produceIV. Based on value judgment

Choose the correct answer from the options given below:

2023: 30 May Shift 1

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

2025: 31 May Shift 1

Choose the correct statements from the following.

(A) The collection of all possible combinations of goods and services that can be produced from a given amount of resources and a given stock of technological knowledge is called the production possibility frontier.

(B) Slope of production possibility frontier is called marginal opportunity cost.

(C) In positive economic analysis, we study how the different mechanisms function.

(D) Scarcity of resources gives rise to the problem of choice.

2022: 30 Aug Shift 2

Match List - I with List - II.

List - IList - II
(A) Centrally planned economy(I) Depends on demand and supply forces
(B) Mixed economy(II) Economic problem
(C) Market economy(III) Socialist economy
(D) Problem of choice(IV) Public and Private sector

Choose the correct answer from the options given below :

2022: 10 Aug Shift 2

The Central problems of an economy that relate to the question 'what to produce and in what quantities, does not deal in :

2022: 30 Aug Shift 2

Which of the following is part of Microeconomics ?

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