Match List I with List II.
| List I | List II | ||
| A. | Indifference curve | I. | Shows various combinations of two goods that give the same utility to the consumer |
| B. | Production possibility curve | II. | Shows various combination of two goods that can be produced by an economy |
| C. | Budget line | III. | Shows various combination of two goods that can be purchased by the consumer |
| D. | Demand curve | IV. | Shows inverse relationship between price of the given commodity & its quantity demanded |
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 2
The correct answer is option (2) : A-I, B-II, C-III, D-IV
| List I | List II | ||
| A. | Indifference curve | I. | Shows various combinations of two goods that give the same utility to the consumer |
| B. | Production possibility curve | II. | Shows various combination of two goods that can be produced by an economy |
| C. | Budget line | III. | Shows various combination of two goods that can be purchased by the consumer |
| D. | Demand curve | IV. | Shows inverse relationship between price of the given commodity & its quantity demanded |