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Question 28 of 50

CUET Economics 2026 23rd May Shift 1

Micro

>

Easy

Scarcity and choice are unrelated concept.

Rich economies do not face the problem of allocation of resources.

The scarce resources do not have alternative uses.

Allocation of limited resources and distribution of goods and services are the basic problems of an economy.

✅ Correct Option: 4

Related questions:

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Which one is not the central problem of the economy?

16 May Shift 1

Identify the characteristics of the resources from the following

(A) Resources are limited

(B) Resources are available for free

(C) Resources are scarce only in developing countries.

(D) Resources have alternative uses.

Choose the correct answer from the options given below:

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The goods which posses the characteristics of rivalary and excludability are known as:

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CUET Economics Past Year Questions (Topic-Wise):

Indian Economic Development

Development Experience (1947-90)
Development Experience of India
Economic Reforms (1991)
Employment
Human Capital Formation
Introduction
Poverty
Rural Development
Sustainable Economic Development

Macro

Balance of Payments
Government Budget
Income & Employment
Introduction
Money & Banking
National Income

Micro

Consumer Behaviour
Forms of Market
Introduction
Market Equilibrium
Production & Costs

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