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CUET Economics 2025 PYQs31 May Shift 1. Free, no login required.

Macro

past year questions, CUET Economics 2025 31 May Shift 1

National Income

past year questions, Macro, CUET Economics 2025 31 May Shift 1

Easy

Whatever is left over is appropriated by the entrepreneur is called ..................

  1. Profit.
  2. Interest.
  3. Subsidies.
  4. Capital.

Solution

✅ Correct Option: 1

Option 1 -> Profit is the residual income left after all expenses are paid.

Option 2 -> Interest is the payment for borrowed capital, not a residual.

Option 3 -> Subsidies are government grants, not entrepreneurial earnings.

Option 4 -> Capital is the investment fund, not the leftover amount.

Hence, Option 1: Profit -> Profit is defined as the residual income that remains after deducting all costs of production including wages, rent, interest, and other expenses. The entrepreneur, being the risk-taker and organizer of production, appropriates whatever is left over as their reward. This residual nature distinguishes profit from other factor payments like wages, rent, or interest which are predetermined. -> correct

Related questions:

2025: 28 May Shift 1

Gross Domestic Product at Market Price is the?

  1. Gross Domestic Product at market price less net product taxes.
  2. Market value of all final goods and services produced within a domestic territory of a country measured in a given financial year.
  3. Expenditure to maintain the current GDP level.
  4. Income earned by factors in the form of interest, profit, wages within the domestic territory of a country.

2026: 11 May Shift 2

The tea leaves purchased by the consumer, are brewed to make drinkable tea. This is an example of:

2025: 27 May Shift 2

Which statements are true in terms of basic national income aggregates:

(A) GNP at factor cost measures the value of output received by the factors of production belonging to a country in a year.

(B) GDP is the market value of all intermediate goods and final goods and services produced within a domestic territory of a country measured in a year.

(C) NDP at factor cost is the income earned by the factors in the form of wages, profits, rent, interest, etc., within the domestic territory of a country.

(D) GDP at factor cost is gross domestic product at market prices, less net product taxes.

Choose the correct answer from the options given below:

2025: 14 May Shift 1

Choose the correct statements:

(A) Intermediate goods are used as raw materials or inputs for production of other commodities.

(B) Consumer goods are consumed when purchased by their ultimate consumers.

(C) Intermediate goods crossed production process boundary.

(D) Capital goods have a durable character which are used in the production process.

2025: 29 May Shift 2

Match List-I with List-II

List-IList-II
(A) C + I + G + (X-M) + NFIA(I) GDPMPGDP_{MP}
(B) GDPMPGDP_{MP} - Depreciation(II) Domestic Income
(C) NDP MP - IT + Subsidies(III) NDPMPNDP_{MP}
(D) NDPMPNDP_{MP} + Depreciation(IV) GNPMPGNP_{MP}

Choose the correct answer from the options given below:

2026: 31 May Shift 1

Consumer price index(CPI) is generally expressed in:

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