Updated On : November 17, 2023
Overview: Are you gearing up for the CUET 2024 and aiming to conquer the Economics section with flying colours? Read this blog for the solved CUET Economics questions.
In the CUET 2024, the Economics section falls under Section II, which covers domain-specific subjects. When you sit for the Economics exam, you'll encounter 50 questions.
However, you're required to answer 40 of these questions. The time allocated for this section is 45 minutes, conducted in a computer-based test format.
The Economics section is worth 200 marks, making it a crucial exam. In terms of scoring, each correct answer earns you 5 marks.
But be cautious because, for each wrong answer, you lose 1 mark. If you choose not to answer a question, it neither gains nor loses you any marks.
These questions are taken from the official CUET Sample Paper and aim to give students an understanding of the potential questions that can appear in the CUET Economics exam paper. Start practising the CUET economics MCQ questions and answers pdf.
CUET economics question paper with answers are as follows -
Q1) What does the consumption function depend on?
1) Disposable Income
3) Interest Rates
4) Consumer Confidence
Correct Answer: 1) Disposable Income
Q2) What is devaluation?
1) An increase in the value of a country's currency relative to other currencies.
2) A sudden drop in the stock market.
3) The deliberate downward adjustment of a country's currency value.
4) A government policy to encourage foreign investment.
Correct Answer: 3) The deliberate downward adjustment of a country's currency value.
Q3) Despite the rise in GDP, what was the major problem of the Indian economy?
1) Income Inequality
2) Poverty and Unemployment
3) Informal Sector and Lack of Formal Jobs
4) Agricultural Distress
Correct Answer: 2) Poverty and Unemployment
Check Out: CUET Marking Scheme
Q4) Indian economy reform was characterized by?
1) Liberalization of Trade and Foreign Investment
2) Deregulation and Privatization
3) Financial Sector Reforms
4) Fiscal Reforms
5) Infrastructure Development
6) Focus on Social Sector Reforms
7) Global Integration
Correct Answer: All of the above (1) Liberalization of Trade and Foreign Investment, (2) Deregulation and Privatization, (3) Financial Sector Reforms, (4) Fiscal Reforms, (5) Infrastructure Development, (6) Focus on Social Sector Reforms, and (7) Global Integration.
Q5) Which of the following years is famously known as the Great Divide in the demographic history of India?
Correct Answer: 4) 1921
Q6) When was NABARD established?
Correct Answer: 4) 1982
Q7) Industrial reform of China took place in which year?
Q8) When was the Suez Canal opened?
Answer: 17 November 1869
Explore Now: CUET Answer Key
Q9) From which state is SEWA related?
Q10) Which of the following is a function of RBI?
A) Accepting deposits from the general public
B) Giving loans to the general public
C) Banker to the government
D) Credit creation
Answer: Credit creation
Q11) Which of the following is considered an intermediate good?
A) A mobile purchased by a student
B) Car purchased by a household
C) Seeds and fertilizers purchased by a farmer
D) Vegetables by a households
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Q12) Economic activities in a market economy are controlled by:
A) Market forces
B) The government or the central authority
D) None of these
Answer: Market forces
Q13) When a domestic currency loses its value in relation to a foreign currency in the international money market, it is a situation of:
A) Currency appreciation
B) Currency depreciation
C) Currency devaluation
D) None of these
Answer: Currency depreciation
Q14) The Green Revolution started happening in India in the year.
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You can follow the tips below to prepare and answer well in the CUET economics question paper.
1) CUET Economics Syllabus
2) Divide and Concur
Divide the economics syllabus into four categories as listed below:
3) Key terms to remember
Read More: CUET Cut Off
4) Important CUET Economics Questions
Prepare for the following questions -
5) Revise formulas for the CUET Economics Syllabus.
Practice formulas for the following parameters -
6) Reference Books and Mock Tests
Practice as many mocks and CUET economics questions and answers pdf as possible. You can refer to the following CUET preparation books:
Learn more: How many questions are there in CUET?
The CUET Economics Questions 2024 can be scored with the right preparation. Familiarity with the types of questions and consistent study and practice can ensure a commendable performance.
Here are the key takeaways:
Frequently Asked Questions
What is the significance of understanding the consumption function in Economics?
What is the difference between devaluation and depreciation in the context of Economics?
How can I effectively prepare for CUET Economics questions based on the article's tips?
What is the difficulty level of CUET economics?
What is the total marks of CUET Eco?