CUET Economics - In which of the following, the demand for a good will be highly price elastic? | PYQs + Solutions

CUET Economics 2025 16 May Shift 1

Micro

Medium

When the price of the good and total expenditure on it change in the same direction.

When the price of the good and total expenditure on it change in the opposite direction.

When the price of the good and does not affect the total expenditure.

When the income of the consumer and total expenditure on it change in the same direction.

✅ Correct Option: 2

Related questions:

26 May Shift 2

Suppose the market determined rent for apartments is $200 per month. The government intervenes and sets the rent control at $250 per month. What is the likely impact of this intervention on market of apartments?

30 May Shift 2

How government intervention through price control policy will have an impact on the market?

(A) The government imposed lower limit on the price that may be charged

(B) For certain goods and services, a fall in price below a particular level is not desirable

(D) Government needs to buy the surplus at the predetermined price

Choose the correct answer from the options given below:

26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Increase in demand > Increase in Supply	(I) Increase in both equilibrium price and quantity.
(B) Increase in demand < Increase in Supply	(II) Decrease in both equilibrium price and quantity.
(C) Increase in demand = Increase in Supply	(III) Decrease in equilibrium price but increase in equilibrium quantity.
(D) Decrease in demand < Decrease in supply	(IV) Increase in equilibrium quantity but no change in equilibrium price.

Choose the correct answer from the options given below:

CUET Economics 2025 16 May Shift 1 PYQs

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