CUET Economics 2025 14 May Shift 1 PYQs

The government-imposed lower limit on the price that may be charged for a particular good or service. What this lower limit is called ?

Public goods, as distinct from private goods, are collectively consumed. Two important features of public goods are:

Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the market supply curve for wheat are given by: qᵈ = 200 - p and qˢ = 120 + p. What is the equilibrium price?