CUET-UG SERIES Economics
The Elasticity Of Demand And Its Measurement
9 previous year questions.
Volume: 9 Ques
Yield: Medium
High-Yield Trend
1
2024 8
2023 Chapter Questions 9 MCQs
01
PYQ 2023
medium
economics ID: cuet-ug-
Arrange the following elasticities of demand in increasing order.
(A) Elastic Demand
(B) Perfectly Elastic Demand
(C) Inelastic Demand
(D) Unitary Elastic Demand
(E) Perfectly Inelastic Demand
Choose the correct answer from the options given below :
(A) Elastic Demand
(B) Perfectly Elastic Demand
(C) Inelastic Demand
(D) Unitary Elastic Demand
(E) Perfectly Inelastic Demand
Choose the correct answer from the options given below :
1
(E), (C), (D), (A), (B)
2
(A), (B), (C), (D), (E)
3
(B), (C), (D), (E), (A)
4
(B), (C), (D), (A), (E)
02
PYQ 2023
medium
economics ID: cuet-ug-
Price of a commodity increases. The demand is inelastic if:
1
Total expenditure (T.E.) on the commodity decreases.
2
T.E. on the commodity increases.
3
T.E. remains same.
4
T.E. becomes zero.
03
PYQ 2023
hard
economics ID: cuet-ug-
Arrange the elasticity (ed) as we move upwards along a linear demand curve_ (A) ed = 1 (B) ed =0 (C) ed =Iinfinity (D) ed 1 (E) ed 1Choose the correct answer from the options given below :
1
(B), (E), (A), (D), (C)
2
(A), (B), (C), (D), (E)
3
(D), (C), (B), (A), (E)
4
(B). (C), (A), (D), (E)
04
PYQ 2023
medium
economics ID: cuet-ug-
The formula for computing price elasticity of demand is
1
2
3
4
05
PYQ 2023
easy
economics ID: cuet-ug-
If aggregate demand exceeds aggregate supply at full employment level, the gap which occurs is known as
06
PYQ 2023
medium
economics ID: cuet-ug-
Suppose the price elasticity of demand for a good is (-)1. At a price of โน4 per unit, demand for the good is 40 units. Suppose the price of the good increases to โน6 per unit, and as a result, the demand for the good will be_____
1
10 units
2
20 units
3
30 units
4
40 units
07
PYQ 2023
medium
economics ID: cuet-ug-
Identify the Demand for foreign exchange-
A. Demand for domestic goods by foreigners
B. Purchase of financial assets of a foreign country.
C. Studying abroad
D. Transfer made by foreigners to resident
E. Import of goods
Choose the correct answer from the options given below :
A. Demand for domestic goods by foreigners
B. Purchase of financial assets of a foreign country.
C. Studying abroad
D. Transfer made by foreigners to resident
E. Import of goods
Choose the correct answer from the options given below :
1
A, B and E only
2
B, C and E only
3
A, C and E only
4
A, C, D and E only
08
PYQ 2023
easy
economics ID: cuet-ug-
Case study: Read the given case study and answer the following questions :
โCOVID-19 to have significant deflationary impact due to demand evaporationโ. Ruling out any impact of stimulus on the price situation. Chief Economic Advisor K.V. Subramaniam on Thursday said the COVID-19 pandemic has severely dented the demand for non-essential goods, creating deflationary conditions. He also said that a good part of the Rs. 20 lakh crore stimulus package is designed in a manner that the fiscal deficit remains under control.
COVID has significant deflationary impact because demand especially for non-essential goods and services will go down significantly. Therefore, it is unlikely that there would be too much inflationary impact through fiscal deficit or stimulus package". Subramaniam told in an interview.
โThe proposed stimulus package will generate demand by infusing liquidity into the system and thus perk up the economyโ, the CEA said.
โRBI is also taking some strategic actions to control the impact of COVID-19 situationโ, CEA further added.
โCOVID-19 to have significant deflationary impact due to demand evaporationโ. Ruling out any impact of stimulus on the price situation. Chief Economic Advisor K.V. Subramaniam on Thursday said the COVID-19 pandemic has severely dented the demand for non-essential goods, creating deflationary conditions. He also said that a good part of the Rs. 20 lakh crore stimulus package is designed in a manner that the fiscal deficit remains under control.
COVID has significant deflationary impact because demand especially for non-essential goods and services will go down significantly. Therefore, it is unlikely that there would be too much inflationary impact through fiscal deficit or stimulus package". Subramaniam told in an interview.
โThe proposed stimulus package will generate demand by infusing liquidity into the system and thus perk up the economyโ, the CEA said.
โRBI is also taking some strategic actions to control the impact of COVID-19 situationโ, CEA further added.
09
PYQ 2024
medium
economics ID: cuet-ug-
When Elasticity of Demand is 1 at every point on the Demand Curve, this curve is known as:
1
Perfectly inelastic demand curve
2
Perfectly elastic demand curve
3
Rectangular Hyperbola
4
Greater than unitary demand curve
About The Elasticity Of Demand And Its Measurement - CUET-UG
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