CUET Economics - An upward sloping straight line supply curve shooting from the X axis indicates the: | PYQs + Solutions

CUET Economics 2025 2 June Shift 1

Micro

Medium

Elasticity of supply is less than one.

Elasticity of supply is equal to one.

Elasticity of supply is greater than one.

Elasticity of supply is equal to zero.

✅ Correct Option: 1

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Imposition of price ceilings usually results into?

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Which of the following expressions will be used for calculating excess supply of salt in the market?

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Identify the correct sequence of events when a minimum support price is imposed:

(A) Government buys the surplus at the predetermined price.

(B) Situation of Surplus occurs due to imposition of floor price.

(D) Market equilibrium occurs by the intersection of demand and supply curves.

Choose the correct answer from the options given below:

CUET Economics 2025 2 June Shift 1 PYQs