Match List-I with List-II :
|
List – I (Characteristic) |
List - II (Implication) |
||
|
A. |
Equilibrium |
I. |
Plans of all the consumers and firms in the market match |
|
B. |
Excess supply |
II. |
Demand decreases with an increase in income |
|
C. |
Inferior good |
III. |
Supply is greater than market demand |
|
D. |
Price ceiling |
IV. |
Imposition of upper limit by government |
Choose the correct answer from the options given below :
1
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
2
(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
3
(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
4
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)