List of top Economics Questions on Economics and economic theories asked in CUET (PG)

Who propounded the principle of 'Maximum Social Advantage'?

Arrange the following Management Theories/Approaches in chronological order, starting from the earliest/oldest.
A. Elton Mayo's Hawthorne Studies
B. Systems Approach
C. Taylor's principles of Scientific Management
D. Total Quality Management
E. Henri Fayol's Modern Management Theory
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Given below are two statements: One is labelled as Assertion (A) and the other is labelled as Reason (R)
Assertion (A): Zero base budgeting forces manages to plan each program package a fresh.
Reason (R): Balanced Scorecard helps ensure the alignment between a company's strategic objectives and its operational activities.
In the light of the above statements, choose the correct answer from the options given below:

Match List I with List II

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STEM: Which of the following is correct?
A. Theory of comparative advantage was given by David Ricardo.
B. As per the theory of comparative advantage, it make sense for a country to specialize in production of these goods that it can produce more efficiently than others.
C. Theory of absolute advantage was given by David Hume.
D. As per the theory of absolute advantage, country should specialize in production of those goods for which they have an absolute advantage and then trade these goods for those produced by other countries.
E. Factor Endowment theory was given by Michael Porter.
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Given below are two statements:
Statement I: In the short run some factors are fixed while in the long run they become varibale.
Statement II: The payment to an input which is in fixed supply in the short run is called quasi rent.
In the light of the above statements, choose the correct answer from the options given below

__is issued by a bank at the request of an importer. It states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of specified documents.

Identify the correct statements:
A. As per absolute - income theory of consumption the current consumption expenditure depends upon the current and absolute level of income.
B. The relative - income theory of consumption states the proportion of income consumed by a household depends on the level of its income in relation to the household with which it identifies itself.
C. According to permanent income hypothesis, it is the current income which determines the level of current consumption expenditure.
D. The life cycle theory of consumption was given by Ando and Modigliani
E. The lifecycle hypothesis postulates, that individual consumption in any time period depend upon resources available to individual, the rate of return on his capital and the age of individual.
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Which of the following relative measures of skewness is based on percentiles?

Given below are two statements:
Statement I: The socioeconomic view says that management's only social responsibility is to maximize profits.
Statement II: The classical view of social responsibility says that management's social responsibility goes beyond making profits and includes social welfare.
In the light of the above statements, choose the correct answer from the options given below

Identify the correct sequence of decision involved in developing advertisement programmes.
A. Objective setting
B. Message decision
C. Budget decision
D. Advertising evaluation
E. Media decisions
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Identify the correct sequence of steps involved in the Decision Making process
A. Allocation of weights to criteria
B. Evaluation of Decision effectiveness
C. Identification of a problem and Decision criteria
D. Development & Analysis of alternatives
E. Selection and Implementation of Alternative
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What are the two main branches of insurance?
A. Life Insurance
B. Fire Insurance
C. Marine Insurance
D. Miscellaneous Insurance
E. General Insurance
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Unfavorable labour rate variance does not occur because of which of the following?

Match List I with List II

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The isoquant which asumes strict complementarity of the factors of production is:

Given below are two statements: One is labelled as Assertion (A) and the other is labelled as Reason (R)
Assertion (A): The general rule of 'Caveat emptor' does not apply to insurance contracts.
Reason (R): The insurance is liable only for those losses which have been proximately caused by the peril insured against.
In the light of the above statements, choose the correct answer from the options given below:

Given below are two statements:
Statement I: Endowment Policy run's only for a limited period or up to a particular age.
Statement II: For a valid nomination, some consideration is essential unless made by way of gift. But assignment does not require any consideration. In the light of the above statements, choose the correct answer from the options given below

Match List I with List II

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___school of thought postulates that utility can be measured.

Which of the following is not component of audit risk?

Who is regarded as the ‘Father of Corporate Social Responsibility’?

Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R
Assertion A: The diagonal elements of the Leontief matrix |I-A must be positive i.e. a11, a22. a33...an should all be less than 1.
Reason R : If aii> 1 for some i, one or more units of the ith industry would be required to produce one unit of itself and as such no net profit can be secured under such circumstances.
In the light of the above statements, choose the correct answer from the options given below

Match List-I and List-II

LIST I		LIST II
A.	Neoclassical theory of investment	I.	Keynes
B.	q theory	II.	Jorgenson
C.	Marginal Efficiency of Capital	III.	Samuelson
D.	Multiplier-accelerator model	IV.	Tobin

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Arrange the following in chronological order starting with the earliest :
A. Nationalization of banks 
B. Establishment of RBI 
C. Launch of MNREGA 
D. Second Five Year Plan 
E. Establishment of SEBI 
Choose the correct answer from the options given below: