CUET economics mock test 2023 | CUET Mock test

Here you will get CUET economics mock test to understand the type of questions you will face in your CUET Economics domain paper .Cuet economics mock test is prepared completely according to CUET exam pattern described by NTA . CUET mock test is prepared by expert teacher according to syllabus of CUET economics .

CUET economics mock test 2023 | CUET Mock test
CUET economics mock test 2023 | CUET Mock test

CUET (UG) is a common universities entrance test for admission in various central universities undergraduate (UG) and Post graduate courses . The CUET exam is consist of three section in which one section is test of domain subjects consist of 50 questions out of which you need to answer 40 questions in 45 min .

Below we have provided the CUET (UG) economics domain subject complete syllabus mock test according to the exam pattern of CUET . The mock test is consist of 50 questions out of which you need to answers 40 questions . For every correct answer you will get 5 marks , for each wrong answers 1 marks will be deducted as negative marking and no marks will me dedducted for un-attempted questions in the exam . With the help of give CUET (UG) economics mock test you wil get to know about your weak areas which you need to improve before the actual exam .

CUET online Economics mock test :

The answer key is provided at the end :

  1. In economics, scarcity refers to a situation when
    (a) demand for goods exceeds its supply
    (b) supply of goods exceeds its demand
    (c) supply of goods is equal to its demand
    (d) Both (a) and (b)
  2. ………… is a system in which people earn livelihood to fulfil their wants.
    (a) Abroad (b) Market
    (c) Economy (d) Village
  3. ………… is the problem which is concerned with the distribution of national income among those who have helped to produce it.
    (a) How to produce?
    (b) What to produce?
    (c) Why to produce?
    (d) For whom to produce?
  4. If a consumer is in equilibrium consuming one commodity, how will he respond to a fall in price of the commodity?
    (a) Decrease the consumption of the commodity
    (b) Increase the consumption of the commodity
    (c) Consumption will remain constant
    (d) None of the above
  5. “Utility is same as Usefulness”. Which of the below options fits the given statement?
    (a) Always true (b) Partially true
    (c) False (d) Incomplete
  1. During the currency crisis, the foreign exchange reserve with Central Bank will
    (a) increase (b) decrease
    (c) remain constant (d) None
  1. When Price Elasticity of Demand ( ) Ed is equal to infinity ( ) ∞ , this refers to
    (a) perfectly elastic demand
    (b) perfectly inelastic demand
    (c) unitary elastic demand
    (d) more than unitary elastic demand
  2. If a 10% rise in price of Good X leads to 20% fall in its quantity demanded, its elasticity of demand is
    (a) elastic
    (b) inelastic
    (c) unitary elastic
    (d) perfectly inelastic
  3. If the price elasticity of demand is 2, a 10 percent increase in the price will result in a ……… decrease in its quantity demanded.
    (a) 5% (b) 10% (c) 20% (d) 25%
  4. Marginal utility curve of a consumer is also his
    (a) indifference curve
    (b) total utility curve
    (c) supply curve
    (d) demand curve
  5. What will be the elasticity of demand if price changes and total expenditure remains constant using total outlay method?
    (a) Perfectly elastic
    (b) Perfectly inelastic
    (c) Unit elastic
    (d) None of these
  1. Increasing returns is applicable because of …… .
    (a) increased efficiency of variable factor
    (b) fuller utilisation of fixed factor
    (c) indivisibility of factors
    (d) Both (a) and (b)
  2. Payment made to outsiders for their goods and services are called …… .
    (a) opportunity cost
    (b) real cost (c) explicit cost
    (d) implicit cost
  3. Total revenue generated from sale of output of a firm can be calculated as
    (a) TR = P × Q (b) TR = AR × Q
    (c) TR = ΣMR (d) All of these
  4. In monopoly and monopolistic competitions, AR and MR curve are downward sloping because the firms can sell more by
    (a) increasing the price
    (b) lowering the price
    (c) keep in price constant
    (d) All of the above
  5. When MC is greater than MR after producer equilibrium, it means
    (a) profit of firm
    (b) producing more will lead to decline in profit
    (c) no profit no loss
    (d) firm enjoys economic efficiency
  6. The claim that other things being equal, the quantity supplied of a good rises when the price of good rises and vice-versa is known as
    (a) Law of Economics
    (b) Law of Supply
    (c) Law of Demand
    (d) All of the above
  1. A firm will supply more quantity of a commodity at same price or even at a reduced price, if the firm wants to
    (a) maximise profit
    (b) maximise social welfare
    (c) maximise sales
    (d) maximise wealth
  2. If a firm’s supply increases due to application of improved technology, this is known as
    (a) expansion in supply
    (b) contraction in supply
    (c) increase in supply
    (d) increase in quantity supplied
  3. Indian government is focusing on Make in India programme, which has led to significant improvement in technology. What will be its impact on supply of goods concerned?
    (a) Increases (b) Decreases
    (c) No impact
    (d) Both (a) and (b)
  4. …… is a situation of the market in which demand for a commodity is exactly equal to its supply corresponding to a particular price.
    (a) Consumer equilibrium
    (b) Producer equilibrium
    (c) Market equilibrium
    (d) Balance of trade
  5. Monopolistic competition combines the features of following market
    (a) Perfect competition and Monopoly
    (b) Monopoly and Oligopoly
    (c) Perfect competition and Oligopoly
    (d) Perfect competition, Monopoly and
    Oligopoly market
  6. Which of the following is/are the feature of monopolistic competition?
    (a) Product differentiation
    (b) Selling cost
    (c) Both (a) and (b)
    (d) None of the above
  7. The surplus caused by a binding price floor will be greatest if ?
    (a) demand is inelastic and supply in elastic
    (b) supply is inelastic, and demand is elastic
    (c) both supply and demand are elastic
    (d) both supply and demand are inelastic
  1. Black marketing is a situation in which the controlled commodity is sold at a price …… than the price fixed by the government.
    (a) higher (b) lower
    (c) Either (a) or (b) (d) None of these
  2. National income is the sum of factor incomes accuring to
    (a) nationals
    (b) economic territory
    (c) residents
    (d) both residents and non-residents
  3. Which of the following items are excluded in calculation of national income under income method?
    (a) Income from illegal activities like smuggling, theft, gambling, etc.
    (b) Income from windfall gains.
    (c) Transfer earnings like unemployment allowance, scholarship, etc.
    (d) All of the above
  4. If gross value added at market price is 350 crore, change in stock is − 50 crore and intermediate consumption is 200 crore, find the total amount of sales. (a) 200 crore (b) 250 crore (c) 600 crore (d) ` 500 crore
  5. National income for a given economy is 10,000 crores while the domestic income of the same country is 12,000 crores. What will be the value of NFIA?
    (a) 2,000 crores (b) – 2,000 crores
    (c) ` 10,000 crores
    (d) None of these
  6. Which of the following items are excluded from GNP measurement?
    (a) Purely financial transactions
    (b) Transfer of used goods and non-market goods and services
    (c) Illegal activities and the value of leisure
    (d) All of the above
  7. Calculate marginal propensity to consume from the following data about an economy which is in equilibrium National income = 1,500 Autonomous consumption expenditure = 300 Investment expenditure = 300
    (a) 0.4 (b) 0.5 (c) 0.6 (d) 0.75
  1. If the value of average propensity to consume is 1.5, what will be the value of average propensity to save?
    (a) 0.5 (b) −0 5. (c) 1 (d) 0
  2. …… refers to a situation where all those who are able to work and are willing to work, are getting work.
    (a) Under employment
    (b) Partial employment
    (c) Full employment
    (d) Voluntary employment
  3. …… refers to selling of government approved securities by RBI to general public and commercial banks in case of excess demand.
    (a) Bank rate (b) CRR
    (c) SLR
    (d) Open market operation
  4. Name the situatin where some people are not getting work, even when they are willing to work at the existing wage rate.
    (a) Full employment
    (b) Involuntary unemployment
    (c) Voluntary unemployment
    (d) None of the above
  5. What can RBI do, if it wants to increase credit in the economy?
    (a) Decrease bank rate and CRR
    (b) Increase bank rate and CRR
    (c) Increase bank rate and decrease CRR
    (d) All of the above
  6. As a custodian of nation’s reserves, RBI keeps
    (a) reserves of foreign currencies
    (b) reserves of gold
    (c) reserves of foreign treasury bills
    (d) All of the above
  7. Demand deposits include
    (a) saving account deposits and fixed deposits
    (b) saving account deposits and current account deposits
    (c) current account deposits and fixed deposits
    (d) All types of deposits
  8. Which of the following bank account provides overdraft facility?
    (a) Saving deposits account
    (b) Current account
    (c) Recurring deposits account
    (d) Fixed deposits account
  1. Which of the following is not a function of Commercial bank?
    (a) Creation of currency
    (b) Accepting deposits
    (c) Granting loans and advances
    (d) Printing of currency
  2. Government provides various goods like roads, parks, street light and defence services etc to general public through budgetary provisions. These goods are called …… .
    (a) budgetary goods
    (b) government goods
    (c) public goods
    (d) private goods
  3. Loans granted to State Governments is an example of … . .
    (a) revenue receipts
    (b) capital receipts
    (c) revenue expenditure
    (d) capital expenditure
  4. Disinvestment of government companies and borrowings from World Bank comes under …… of the government.
    (a) total receipts (b) capital receipts
    (c) loan receipts
    (d) revenue receipts
  1. Expenditure on construction of new phase of Metro is an example of
    (a) Developmental expenditure
    (b) Non-Developmental expenditure
    (c) Both (a) and (b)
    (d) None of the above
  2. Expenditure on maintenance of hospital by govern- ment already constructed sometime ago is a part of
    (a) plan expenditure
    (b) non-plan expenditure
    (c) can’t be determined
    (d) None of the above
  3. Other things remaining unchanged, when in a country the price of foreign currency rises, national income is …… .
    (a) likely to rise
    (b) likely to fall
    (c) Both (a) and
    (b) (d) not affected
  4. Who will be benefited when there is a appreciation in a foreign currency in terms of domestic currency?
    (a) Importers
    (b) Exporters
    (c) Both (a) and (b)
    (d) Neither (a) nor (b)
  1. Foreign exchange transactions dependent on other foreign exchange transactions are called
    (a) current account transactions
    (b) capital account transactions
    (c) autonomous transactions
    (d) accommodating transactions
  2. Which is not a feature of Balance of Payments (BoP) Account?
    (a) It includes economic transactions
    (b) It has given period of time
    (c) It records only capital transactions
    (d) Trade between resident of a country and rest of the world
  3. Choose the incorrect statement from given below
    (a) Repayment of loan taken from IMF will be recorded on debit side.
    (b) Surplus in BoP refers to a state where debit side exceeds credit side.
    (c) Increase in investment from rest of the world decreases the exchange rate.
    (d) Devaluation of current items improves trade balance of domestic country.

CUET economics mock test answer key :

1. (a) 2. (c) 3. (d) 4. (b) 5. (c) 6. (b) 7. (a) 8. (a) 9. (c) 10. (d) 11. (c) 12. (d) 13. (c) 14. (d) 15. (b) 16. (b) 17. (b) 18. (c) 19. (c) 20. (a) 21. (c) 22. (a) 23. (c) 24. (c) 25. (a) 26. (d) 27. (d) 28. (c) 29. (b) 30. (d) 31. (c) 32. (b) 33. (c) 34. (d) 35. (b) 36. (a) 37. (d) 38. (b) 39. (b) 40. (d) 41. (c) 42. (d) 43. (b) 44. (a) 45. (a) 46. (a) 47. (b) 48. (d) 49. (c) 50. (b)

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