CUET UG 2023 Economics Question Paper (05-Jun-2023) (Shift 1)

Question 1

Which committee was set up in 1955 to suggest the role of small-scale industries promoting rural development?

Accepted Answer

Karve committee

Answer

Mahalanobis committee

Answer

b Tendulkar committee

Answer

Gokhale committee

Question 2

The stock of unsold finished goods or semi-finished goods or raw materials, which a firm carries from one year to the next is called __________:

Accepted Answer

Inventory

Answer

b Investment

Answer

Production at the end

Answer

Warehousing material

Question 3

Arrange the following sequence related to the correction of Excess Demand in correct order:

(A) Increase in Bank Rate by RBI

(B) Problem of excess demand will be corrected

(C) Public will borrow less

(D) Decreases money supply

(E) Loans taken by commercial banks will become costlier/expensive

Choose the correct answer from the options given below:

Accepted Answer

b (A), (E), (C), (D), (B)

Answer

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

Answer

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

Answer

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

Question 4

In the calculation of GDP by Expenditure method, what should be added from the following:

(A) Private Final Consumption expenditure

(B) Investment Expenditure

(C) Net imports

(D) Net exports

(E) Government Final Consumption Expenditure

Choose the correct answer from the options given below:

Accepted Answer

b (A), (B), (D), (E) Only

Answer

(B), (C), (D), (E) Only

Answer

(C), (D), (E), (A) Only

Answer

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

Question 5

In addition to limited availability of resources, what is the other reason which compels every economy to decide on how to use its resources?

Accepted Answer

b Resources do have competing usages

Answer

Optimum utilisation of resources without cost advantage

Answer

Minimum wastage of resources

Answer

Economical usage of resources