CUET Economics 2025 30 May Shift 1 PYQs

Arrange the statements to define the relationship between elasticity and expenditure of a commodity.

(A) The percentage increase in quantity demanded is greater than the percentage decline in the price.

(B) The impact on expenditure depends on how responsive the demand for the good is to the price change.

(C) The nature of price elasticity of demand is elastic.

(D) Expenditure on the goods will increase.

Choose the correct answer from the options given below:

Suppose the market determined rent for apartments is $200 per month. The government intervenes and sets the rent control at $250 per month. What is the likely impact of this intervention on market of apartments?

When the percentage change in quantity demanded equals the percentage change in its price. The demand for the this good is said to be?

1. Perfectly Elastic
2. Perfectlty Inelastic
3. Unitary Elastic
4. Less Elastic