Match List - I with List - II.
|
List – I Market Related Concepts |
List – II Characteristics/Egs |
|
(A) Free Market |
(I) Commodification |
|
(B) Capitalism |
(II) 'Haat' |
|
(C) Weekly Market |
(III) Virtual market |
|
(D) NASDAQ |
(IV) 'Laissez-faire' |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → (A)-(IV), (B)-(I), (C)-(II), (D)-(III)
Here's why each element matches:
* **(A) Free Market (IV) Laissez-faire:** Laissez-faire refers to a minimal government intervention in the economy, which is a key characteristic of a free market.
* **(B) Capitalism (I) Commodification:** Capitalism is an economic system where goods, services, and even labor are treated as commodities to be bought and sold. Commodification reflects this aspect.
* **(C) Weekly Market (II) 'Haat':** Haat refers to a traditional marketplace held on specific days of the week in rural areas of India. This is a concrete example of a weekly market.
* **(D) NASDAQ (III) Virtual market:** NASDAQ is an electronic stock exchange, a prominent example of a virtual market where trading happens online.