Match List-I (bases of comparison) with List-II (the production concept on each basis):
| List-I | List-II | ||
|---|---|---|---|
| (A) | Starting point | (I) | Availability and affordability of product |
| (B) | Main focus | (II) | Factory |
| (C) | Means | (III) | Profit through volume of production |
| (D) | Ends | (IV) | Quantity of product |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → (A)-(II), (B)-(IV), (C)-(I), (D)-(III)
| List-I | List-II | Reason |
|---|---|---|
| (A) Starting point | (II) Factory | The production concept starts from the factory. The firm’s task is to produce goods on a large scale. |
| (B) Main focus | (IV) Quantity of product | The focus is on producing a large quantity, which lowers the average cost. |
| (C) Means | (I) Availability and affordability of product | It assumes buyers favour products that are widely available at an affordable price. |
| (D) Ends | (III) Profit through volume of production | Profit comes from the large volume of production. |
NCERT (2026-27 Edition):
|
