CUET 2026 Economics Free Mock Test 2 | CUET 2026 Mock Test Free
ЁЯУК Economics Mock Test 2
CUET Style Questions | 50 Questions | 60 Minutes
Time: 60:00
Progress
Question 0 of 50
Question 1
When an economy decides which production technique to use among labor-intensive or capital-intensive methods, which central problem is it addressing?
Question 2
The boundary of Production Possibility Set showing maximum possible output combinations is called:
Question 3
Which theory assumes that utility can be measured numerically in cardinal numbers?
Question 4
The law stating that as consumption of a commodity increases, the marginal utility from each additional unit decreases is:
Question 5
The rate at which one good must be given up to obtain an additional unit of another good while maintaining the same utility level is called:
Question 6
Goods that are consumed together and have complementary relationship are called:
Question 7
Total Product (TP) shows the relationship between:
Question 8
Average Product (AP) is calculated as:
Question 9
The Law of Variable Proportions describes that marginal product:
Question 10
In the short run, at least one factor of production is:
Question 11
Constant Returns to Scale occurs when:
Question 12
Increasing Returns to Scale is depicted by:
Question 13
Total Cost (TC) is equal to:
Question 14
Average Variable Cost (AVC) is calculated as:
Question 15
The U-shaped Average Cost curve is due to:
Question 16
For profit maximization in perfect competition, the condition is:
Question 17
A firm should shut down in the short run if:
Question 18
If an individual buys 40 units when price is Rs. 20, and 35 units when price is Rs. 25, calculate price elasticity of demand:
Question 19
Minimum wage is an example of:
Question 20
Who wrote “The Wealth of Nations”?
Question 21
The multiplier mechanism refers to:
Question 22
CPI (Consumer Price Index) compares prices between:
Question 23
Wholesale Price Index (WPI) measures prices at:
Question 24
The formula C + I + G + (X – M) represents:
Question 25
Nominal GDP is measured at:
Question 26
Bartering is NOT a function of money because:
Question 27
From a bank’s perspective, loans given to customers are considered:
Question 28
Cash Reserve Ratio (CRR) refers to:
Question 29
Repo Rate is the interest rate at which:
Question 30
Ex-ante refers to:
Question 31
The allocative function of government refers to:
Question 32
Balance of Payment includes:
Question 33
In the income method of calculating National Income, the first step is:
Question 34
M1 (most liquid money supply) includes:
Question 35
Foreign Portfolio Investment is recorded in:
Question 36
When central bank buys foreign exchange, it is called:
Question 37
When an individual exports goods, this is considered:
Question 38
In the production method of National Income, the first step is:
Question 39
Employment level is primarily determined by:
Question 40
Full employment means:
Question 41
Equilibrium output is determined where:
Question 42
Deficient demand leads to:
Question 43
Excess demand causes:
Question 44
GST is classified as a:
Question 45
Input Tax Credit (ITC) under GST helps to:
Question 46
GST replaced which types of taxes?
Question 47
Which commodity is kept outside GST ambit?
Question 48
GST brought uniformity in tax rates across:
Question 49
When government increases spending and creates deficit, it leads to:
Question 50
The main objective of GST implementation was to:
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