CUET Economics - An increase in the price of socks is likely to decrease the demand for shoes and a decrease in the price of socks is likely to increase the demand for shoes. Socks and shoes are: | PYQs + Solutions

CUET Economics 2025 27 May Shift 2

Micro

Easy

Giffen goods.

Substitutes goods.

Complementary goods.

Inferior goods.

✅ Correct Option: 3

Related questions:

14 May Shift 1

With regard to price elasticity, in general, demand for a luxury good is likely to be ........

Inelastic
Unitary elastic
Perfectly Inelastic
Elastic

14 May Shift 1

Suppose a consumer purchase 15 bananas when its price is Rs. 5 per banana. When the price increases to Rs. 7 per banana, consumer reduces his demand to 12 bananas. Price elasticity of demand would be...........

16 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Increase in price of goods X	(I) Increase in demand for normal goods.
(B) Increase in income of consumers	(II) Demand is price inelastic
(C) Good X is a necessary good	(III) Unit elasticity of demand.
(D) Demand curve of Good X is a rectangular hyperbola	(IV) Contraction in demand for good X

Choose the correct answer from the options given below:

CUET Economics 2025 27 May Shift 2 PYQs

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