CUET Economics Economics > Introduction PYQs

Centrally Planned Economy.

Closed Economy.

Market Economy.

Socialist Economy.

(C), (B), (D), (A)

(A), (B), (C), (D)

(B), (A), (D), (C)

(B), (A), (C), (D)

(C), (B), (D), (A)

(A), (B), (C), (D)

(C), (B), (A), (D)

(A), (B), (D), (C)

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (IV), (B) - (III), (C) - (I), (D) - (II)

(A) - (I), (B) - (III), (C) - (IV), (D) - (II)

(A) - (IV), (B) - (I), (C) - (II), (D) - (III)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (III), (B) - (I), (C) - (IV), (D) - (II)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

There is private ownership of means of production.

There is public ownership of means of production.

There is sale and purchase of labour services at a price which is called the wage rate.

Production takes place for the welfare of society.

Alternative use of the resources.

Unlimited wants.

Limited (scarce) resources.

Excessive Income.

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

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

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

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

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (IV), (D) - (II)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Macro Economics.

Micro Economics.

Positive Economics.

Normative Economics.

Professor at University of Glasgow

'The Economic Consequences of the Peace' written in 1919.

'An Enquiry into the Nature and Cause of the Wealth of Nations' Published in 1776

Founder of political economy

Adam Smith.

Marshall.

Robbins.

Samuelson.

Production of goods and services.

choosing appropriate technique of production.

distribution of output in the society.

choosing among the commodities for production.

Why these goods produced?

For whom are these goods produced?

How are these goods produced?

What to produced and in what quantities?

Consumers.

Producers.

Government.

Economic Agents.

Centrally Planned Economy.

Mixed Economy.

Market Economy.

Colonised Economy.

Long term planning

Future policies and planning

What should be done

How the different mechanisms function

John Maynard Keynes

Adam Smith

David Ricardo

Thomas Malthus

1940s

1930s

1920s

1950s

1919

1775

1776

1936

National Income.

Components.

Models.

Aggregate.

Production.

Choices.

Investment.

Consumption.

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

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

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

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

Opportunity.

Production.

Total.

Economic.

A combination of goods can be produced but resources are underutilized.

A combination of goods can be produced, and the resources are fully utilized.

A combination of goods can not be produced as it is beyond the capacity of the economy.

A combination of goods can be produced and resources are appropriately utilized.

J. M. Keynes

David Ricardo

Adam Smith

Karl Marx

Adam Smith.

John Maynard Keynes.

Amartya Sen.

Abraham Maslow.

Why are the goods produced?

What to produce?

How are the goods produced?

For whom are the goods produced?

Total Cost.

Opportunity Cost.

Marginal Cost.

Average Cost.

What is produced and in how much quantities?

How are these goods produced?

Where are these goods produced?

For whom are these goods produced?

Total cost.

Marginal cost.

Differential cost.

Opportunity cost.

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

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

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

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

Capitalist economy.

Mixed economy.

Private economy.

Government economy.

Production Possibility Set.

Isoquant Curve.

Production Possibility Frontier.

Indifference Curve.

Decision-making.

Production.

Choice.

Consumption.

What to produce?

How to produce?

For whom to produce?

Economising of resources

(A) and (D) only

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

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

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

1

2

3

4

Whether or not medical services should be provided for free to people below poverty line.

Whether to produce more food products or more textiles.

Whether to use more labour for production or more machines.

how should the produce in the economy be distributed among individuals.

John Maynard Keynes

Adam Smith

J. S. Mill.

Alfred Marshall

States problems

Consumption problems

Central problems

Production problems

A point below the production possibility frontier

A point above the production possibility frontier

A point on the production possibility frontier

A point on or above the production possibility frontier

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

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

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

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

Indifference Curve.

Isoquant.

Production Possibility Frontier.

Production Possibility Set.

Macroeconomic Model

Microeconomic Model.

Economic Performance.

Production Method.

Normative Economice

Positive Economics.

Cordinal Approach.

Ordinal Approach.

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

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

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

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

How to produce?

What to produce?

Whom to produced?

Where to produced?