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Public goods and market failure is an important topic in the Economics section in CUET PG exam. Practising this topic will increase your score overall and make your conceptual grip on CUET PG exam stronger.
This article gives you a full set of CUET PG PYQs for Public goods and market failure with explanations for effective preparation. Practice of CUET PG Economics PYQs including Public goods and market failure questions regularly will improve accuracy, speed, and confidence in the CUET PG 2026 exam.
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CUET PG PYQs for Public goods and market failure with Solutions
1.
Which of the following statements are correct about the contrast between pure public and pure private goods?
(A) The total provision of pure private goods is the sum of private consumption, whereas the total provision of pure public goods is equal between individuals.
(B) The consumer in general pays the same prices and consumes different quantities of the good when there is efficient provision of pure private goods.
(C) The consumer pays different prices and consumes the same quantity of the good when there is efficient provision of pure public goods.
(D) Atomistic markets ensure efficient provisioning for both pure private as well as pure public goods.
Choose the correct answer from the options given below:
- (A), (B) and (D) only
- (A), (B) and (C) only
- (B), (C) and (D) only
- (A), (B), (C) and (D)
2.
Which of the following is incorrect about the problem of externalities?- They may be reciprocal or unidirectional.
- They refer to an interdependence between two parties that operates outside the price mechanism.
- They may be marginal or infra-marginal.
- The process of internalization of the negative externality requires that both parties must gain.
3.
Services such as the provision of clean air and national security are considered to be:- Pure public goods
- Pure private goods
- Club goods
- Nationalist goods
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