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Match List I with List II
Choose the correct answer from the options given below : | ||||||||||||||||||||
A-II, B-IV, C-I, D-III A-I, B-II, C-III, D-IV A-III, B-I, C-II, D-IV A-I, B-IV, C-III, D-II |
A-II, B-IV, C-I, D-III |
The correct answer is option (1) : A-II, B-IV, C-I, D-III - A. Income increase - Quantity of Goods increases (normal Good) : when income increases, the quantity of normal goods typically increases. - B. Income increase - Quantity of Goods decreases (Inferior Good):For inferior goods, when income increases, the quantity consumed may decrease. - C. Increase in price, other good Quantity increases (Substitute Good): When the price of one good increases, the quantity demanded for its substitute may increase. - D. Goods consumed together (Complementary Good):Complementary goods are consumed together, and and, an increase in the price or one may lead to a decrease in the quantity demanded for the other. |
