Match List-I with List-II
|
List-I |
List-II |
|
(A) Substitution effect stronger than the income effect |
(I) Inferior goods |
|
(B) Income effect stronger than the substitution effect |
(II) Complementary goods |
|
(C) Demands and income move opposite direction |
(III) Normal goods |
|
(D) Goods consumed together |
(IV) Giffen goods |
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(III), (B)-(IV), (C)-(I), (D)-(II)
|
List-I |
List-II |
|
(A) Substitution effect stronger than the income effect |
(III) Normal goods |
|
(B) Income effect stronger than the substitution effect |
(IV) Giffen goods |
|
(C) Demands and income move opposite direction |
(I) Inferior goods |
|
(D) Goods consumed together |
(II) Complementary goods |