CUET Economics 2026 13th May Shift 1 PYQs

The market determined price of a good is Rs. 40.The government determines the price ceiling on the good as Rs. 25. Calculate the excess demand/excess supply it will cause if the demand and supply functions are Qd= 200 – p and Qs=120+ p respectively.

A hurricane in some parts of the country destroyed a major part of the onion crop. Arrange the chain effects of the same on onion market in proper sequence.

(A) There will be upward pressure on the price of onions.

(B) The buyers will compete in order to get onions in the market.

(C) Demand contracts and supply expands until the market achieves a new equilibrium.

(D) The market supply of onions decreases, leading to excess demand for the same.

Choose the correct answer from the options given below:

If the government imposes a price ceiling of Rs 31 on salt, what will be the volume of excess demand/ supply in the market?