UGC NET Cost concepts Previous Year Questions
JRFSmart holds 8 previous-year questions on Cost concepts from UGC NET Commerce (Paper 2), filed under Unit 3: Business Economics, drawn from 8 of the 22 exam papers in the bank (2018–2025). Each question can be practised with a full explanation and shows how often NTA has returned to the same idea.
What is asked in Cost concepts
The questions in this topic fall under these subtopics, ordered by how many previous-year questions each has.
| Subtopic | Questions |
|---|---|
| Short-run production and cost analysis | 2 |
| Economies of scale and scope | 1 |
| Shut-down point | 1 |
| Sunk, marginal, investment and implicit cost | 1 |
| Explicit, implicit, total and sunk cost | 1 |
| Concepts used to choose among alternatives | 1 |
| Utility and cost formulae | 1 |
NTA repeat analysis
Cost concepts appears in 8 of 22 papers (36%), which JRFSmart rates as high frequency.
Sample previous-year questions
Match the LIST-I with LIST-II LIST I | LIST II A. Total Utility | I. MU1 + MU2 + ______ MUn B. Marginal Utility | II. TUn - TUn - 1 C. Average Fixed Cost | III. delta TC / delta Q D. Marginal Cost | IV. TFC/Q Choose the correct answer from the options given…
Match List I with List II: LIST I | LIST II A. Explicit Cost | I. Costs that do not require any outlay of money by the firm B. Implicit Cost | II. A cost that has already been committed and cannot be recovered C. Total Cost | III. Costs that require an…
Which of the following are relevant in deciding among different courses of action, the manager needs to consider the differential revenue and costs of alternatives? A. Opportunity costs and economic profits B. Fixed and Sunk Costs C. Marginal Revenue and…
Which of the following statements regarding short-term theory of production and cost analysis are true? a. Economic rent is the same as economic profit. b. Imputed cost is the rent of hired building. c. When AC=MC, AC is minimum. d. When MC is rising, AC>MC…
Which of the following statements regarding the short-term theory of production and cost analysis are false? A. Economic rent is the same as economic profit B. Imputed cost is the rent of a hired building C. When AC = MC, AC is minimum D. When MC is rising…
Match List I with List II LIST I | LIST II I. Sunk cost | 1. Change in total cost for a unit change in output II. Marginal cost | 2. Value of inputs owned and used in production III. Investment cost | 3. Costs that are unaffected by firm decision IV…
Assertion-A: At times, a business may face the situation where it has to shut down its operations. Reason-R: If the revenue is less than its variable cost, the operation should be closed down. In the context of above two statements, which of the following…
Match the items of List - II with the items of List - I and indicate the code of correct matching. The items relate to economies of scale/scope. LIST I | LIST II A. Economies of scale | I. arise with lower average costs of manufacturing a product when two…
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