Micro

Introduction

Easy

Which of the following is not a central problem of an economy?

What to produce more ?

How much of which resource to be used ?

How to increase resources ?

Distribution of final produce among the individuals.

✅ Correct Option: 3

The three central problems of any economy are: What to produce, How to produce, and For whom to produce. 'What to produce more' relates to 'what to produce'; 'how much of which resource to be used' relates to 'how to produce'; 'distribution of final produce' relates to 'for whom to produce'. 'How to increase resources' is a problem of growth, not a central allocation problem.

2023: 30 May Shift 1

__________ gives rise to the problem of choice.

2025: 28 May Shift 2

An economy has to choose one of the many possibilities that it has at given resources. Therefore, the cost that an additional unit of X commodity in terms of the amount of the Y commodity that has to be forgone is called ................ cost.

2023: 20 June Shift 1

Which statement is not related to Normative Economics?

2022: 30 Aug Shift 2

Match List - I with List - II.

List - I	List - 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 :

2025: 14 May Shift 1

Any allocation of resources by the society would result in the _____ of a particular combination of different goods and services.

2026: 13 May Shift 2

In the course of basic economic activities, every society has to face a scarcity of resources, and the scarcity of resources rises which of the following problem?

Which of the following is not a central problem of an economy?

Solution

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CUET Economics Past Year Questions (Topic-Wise)