Match List-I with List-II List-

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Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Market Equilibrium

Question:

Match List-I with List-II

List-I	List-II
(A) Food Availability Decline (FAD Theory)	(I) Maximum Price
(B) Price Ceiling	(II) Entitlement Failure
(C) Floor Price	(III) Minimum Support Price
(D) Public Distribution System	(IV) Fair price Shops

Choose the correct answer from the options given below:

Options:

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(II), (B)-(I), (C)-(III), (D)-(IV)

(A)-(I), (B)-(II), (C)-(IV), (D)-(III)

(A)-(IV), (B)-(III), (C)-(I), (D)-(II)

Correct Answer:

(A)-(II), (B)-(I), (C)-(III), (D)-(IV)

Explanation:

The correct answer is Option (2) → (A)-(II), (B)-(I), (C)-(III), (D)-(IV)

A) Food Availability Decline (FAD Theory) → (II) Entitlement Failure. This is based on Amartya Sen's critique of the FAD theory, arguing that famines often result from people losing their entitlements (ability to access food), not just a fall in food availability.
(B) Price Ceiling → (I) Maximum Price. A price ceiling is a maximum legal price set by the government, beyond which sellers cannot charge.
(C) Floor Price → (III) Minimum Support Price. A floor price is the minimum price fixed by the government, often implemented through schemes like Minimum Support Price (MSP) for agricultural products.
(D) Public Distribution System → (IV) Fair Price Shops. The PDS distributes essential commodities through fair price shops to ensure food security for the poor.