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PU MET 2022 Economics & Business Previous Year Questions with Detailed Solutions

Official PU MET 2022 Economics & Business questions on demand, money, banking terms, cartels and company basics, each explained.

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Questions, answer key and solutions.

Questions
17
Duration
17 min
Marks
17

Negative marking

Attempts
100
Access
Free
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Normal practice, or a Simulated test

Both use the same questions. Normal practice is untimed and needs no account: choose an option and the answer and solution appear at once. The Simulated test is the real computer-based format, with one 17-minute clock, a question palette and full screen, and your score, the key and the solutions arrive when you submit.

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Normal

Untimed

Every question on one page, loading as you scroll. Choose an option and see straight away whether it was right.

  • No timer. Nothing to start and nothing to submit. Stop whenever you like.
  • Answered as you choose. Tap an option and it is marked at once, with the correct answer shown.
  • Solutions in place. The explanation, and the video where one has been added, sit under the question.
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Real exam conditions

Simulated

Timed CBT

The computer-based test format: one clock, a question palette, and a score the moment you submit.

  • A clock that does not pause. 17 minutes from the moment you begin, and the paper is submitted for you when it reaches zero.
  • Question palette. Answered, not answered and marked for review, section by section, as the real interface has it.
  • Full screen, proctored. The test takes over the screen; leaving it three times submits the paper.
  • Answers hidden until you submit. The key, the explanations and your score all arrive together at the end.

About this test

PU MET 2022 Economics & Business PYQ: Economy, Banking and Company Basics

This is the Economics & Business section from the official PU MET 2022 paper, covering basic economics, banking terms, market forms, company basics and environmental studies. Aptitude360 explains the correct answer to every question in detail.

Topics covered in PU MET 2022 Economics and Business

  • Definitions of economics and the father of economics
  • Value of money and the price level, human capital, GDP per capita
  • Capital stock and output, capital gains
  • Mixed economy, income elasticity of demand, cartels
  • Cash reserve ratio and bad loans in banking
  • Features of a corporation, the formal record of a meeting, environmental studies and deforestation

Key concepts to revise for this section

  • Inverse relation between the value of money and prices
  • Income elasticity classes: necessities, luxuries and inferior goods
  • Cartels as collusion among firms in an oligopoly
  • CRR as an RBI reserve requirement, and non-performing assets as the term for bad loans
  • Features of a company: separate legal entity, limited liability, perpetual succession

Preparation tips for business awareness

  • Learn standard textbook definitions closely, since similar-sounding terms are easy to confuse
  • Separate RBI policy terms from terms describing a bank's own loans and deposits
  • Link each economic term to a familiar Indian example to remember it

Who should practise this set

PU MET aspirants and BBA or MBA entrance candidates who need a quick check of economics and business fundamentals.

FAQs about PU MET 2022 Economics & Business Previous Year Questions with Detailed Solutions

Who is called the father of economics?
Adam Smith is called the father of economics. His book The Wealth of Nations, published in 1776, laid the foundation of classical economics.
What is cash reserve ratio?
Cash reserve ratio is the share of a bank's deposits that it must keep with the Reserve Bank of India as reserves. Banks earn no interest on this amount.
What does income elasticity greater than one mean?
It means demand rises proportionately more than income, so the good is a luxury. Necessities have income elasticity between zero and one.
What is a cartel in economics?
A cartel is a formal agreement among firms in an oligopoly to fix prices or output. It reduces competition among its members.

Test structure

How the paper is split, and how long each part runs. A section you have finished cannot be returned to.

SectionQuestionsTime
PU MET 2022 · Economics & Business1717 min

Marking & rules

Total marks
17 across 17 questions.
Negative marking
A wrong answer costs marks. Leaving a question unanswered costs nothing.
Attempts
100 in total. An attempt is spent the moment you begin one.

What you get when you submit

The analysis is ready the moment you submit the paper.

Score and accuracy

Marks, percentage, right, wrong and skipped, and the time you took.

Section by section

The same figures for each section, so a weak one cannot hide in an average.

The full answer key

Every question with your answer, the right one, the working, and the video where there is one.

Where you stand

Your score against the spread of everyone else who has sat this test.

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