Preheat your oven to 400°F (200°C) to ensure the nachos get toasty when baked.
In a medium bowl, combine olive oil, ground chili powder, cumin, paprika, onion powder, garlic powder, and salt. Mix well to form a fragrant spice blend.
Add tomato paste and vegetable broth (or chicken broth or water) to the bowl and stir until combined.
Fold in rinsed and drained black beans and pinto beans, coating them evenly with the spice mixture.
Spread tortilla chips in an even layer on a large baking sheet.
Spoon the seasoned bean mixture evenly over the chips.
Sprinkle shredded Cheddar and Monterey Jack cheese generously over the chips and beans.
Bake in the preheated oven for 10-15 minutes until cheese is melted and bubbly. Watch closely to prevent burning.
Add your favorite toppings such as guacamole, sour cream, fresh salsa, jalapeños, or chopped cilantro after baking.
Serve hot and enjoy your delicious Vegetarian Nachos fresh with friends and family.