Match List-I with List-II List-I Time Series Component List-II Exampl…

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

List-I Time Series Component	List-II Example
(A) Secular Variation	(IV) Data regarding National income
(B) Seasonal Variation	(III) Monthly sale of woolen cloths
(C) Cyclic Variation	(II) Recession in business
(D) Irregular variation	(I) Pandemic

(A) Secular Variation ⟶ (IV) Data regarding National income

Secular variation refers to the long-term trend or movement in a time series. For example, national income generally shows a long-term upward or downward trend due to economic growth or decline.

(B) Seasonal Variation ⟶ (III) Monthly sale of woolen cloths

Seasonal variation refers to periodic and regular fluctuations within a year, usually due to weather, festivals, or habits. Example: woolen cloth sales rise in winter and fall in summer.

(C) Cyclic Variation ⟶ (II) Recession in business

Cyclic variation refers to long-term oscillations around the trend line, often associated with the business cycle (prosperity, recession, depression, recovery). Example: a recession phase in business cycle.

(D) Irregular Variation ⟶ (I) Pandemic

Irregular variation refers to unpredictable, non-repeating, short-term fluctuations caused by unforeseen events. Example: a pandemic or natural calamity disrupting normal patterns.