CUET Economics - Identify the factors of price elasticity of demand. (A) Nature of Goods. (B) Availability of Substitution. (C) Complementary Goods (D) Cost of Goods. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Economics 2025 13 May Shift 2

Micro

Medium

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), and (C)

(B), (C) and (D) only

✅ Correct Option: 3

Related questions:

14 May Shift 1

Identify the correct statements with regard to the consumer's budget line/set.

(A) A decrease in the price of goods makes the budget line steeper

(B) A decrease in the price of goods makes the budget line flatter

(D) All bundles in the positive quadrant which are on or below the line are included in the budget set.

30 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Substitution effect stronger than the income effect	(I) Inferior goods
(B) Income effect stronger than the substitution effect	(II) Complementary goods
(C) Demands and income move opposite direction	(III) Normal goods
(D) Goods consumed together	(IV) Giffen goods

Choose the correct answer from the options given below:

21 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Increase in consumers' income	(I) Budget line becomes flatter
(B) Decrease in price of good on X axis	(II) No change in the slope of budget line
(C) Equal increase in price of both good X and good Y	(III) Parallel and rightward shift in their budget line
(D) Decrease in Price of the good on Y axis	(IV) Budget line becomes steeper

Choose the correct answer from the options given below:

CUET Economics 2025 13 May Shift 2 PYQs