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) Control Price	(I) Set below the equilibrium price
(B) Floor Price	(II) Fixed by the government for the labourers
(C) Minimum Wage Legislation	(III) Set above the equilibrium price
(D) Market Equilibrium	(IV) when demand and supply curve intersect.

Choose the correct answer from the options given below:

Options:

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

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

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

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

Correct Answer:

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

Explanation:

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

(A) Control Price refers to a government-imposed price ceiling, which is a maximum price set (I) below the equilibrium price to protect consumers.
(B) Floor Price is a government-imposed minimum price, which is set (III) above the equilibrium price to protect producers.
(C) Minimum Wage Legislation is a specific type of price floor in the labor market, which is (II) fixed by the government for the labourers.
(D) Market Equilibrium is the state where the quantity demanded and quantity supplied are equal, which occurs (IV) when the demand and supply curves intersect.