Match List I and List II and select the correct answer using the codes given below the lists:
|
List I (Types of Goods) |
List II (Characteristics) |
| A. Giffen Goods | 1. non-rivalry and non-excludability characteristics |
| B. Veblen Goods | 2. an inferior good with no close substitute available |
| C. Convenience Goods | 3. price of goods and demand rises |
| D. Public Goods | 4. items that are purchased frequently, and quickly with minimal effort. |
1
A-2, B-3, C-4, D-1
2
A-2, B-3, C-1, D-4
3
A-3, B-2, C-4, D-1
4
A-3, B-2, C-1, D-4