| List - I (Elasticity Type) | List - II (Explanation) |
|---|---|
| A. Price Elasticity of Demand | I. Measures the responsiveness of quantity demanded to changes in income |
| B. Cross Elasticity of Demand | II. Measures the responsiveness of quantity demanded of one good to the price change of another good |
| C. Income Elasticity of Demand | III. Measures the responsiveness of quantity demanded to changes in the price of the same good |
| D. Price Elasticity of Supply | IV. Measures the responsiveness of supply to a change in the price of a good |
1
(A) - (I), (B) - (IV), (C) - (III), (D) - (II)
2
(A) - (II), (B) - (IV), (C) - (III), (D) - (I)
3
(A) - (IV), (B) - (III), (C) - (I), (D) - (II)
4
(A) - (III), (B) - (II), (C) - (I), (D) - (IV)