CUET Economics 2025 30 May Shift 1 PYQs

If we want to have more of one of the goods, we will have less of the other good. Thus, there is always a cost of having a little more of one good in terms of the amount of the other good that has to be forgone. What is this cost known as?

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

1. Why are the goods produced?
2. What to produce?
3. How are the goods produced?
4. For whom are the goods produced?

suppose an individual with same working condition got three alternative job in his hand he has selected the best and need to forgone the next best alternative. Identify the indicated cost in the aforesaid statement.