Match List-I with List-II with reference to China:
| List-I | List-II |
|---|---|
| (A) Township and village enterprises | (I) Made to face competition during the reforms |
| (B) State Owned Enterprises | (II) Owned and operated by local collectives |
| (C) Dual pricing | (III) Rural units with governmental, political and economic functions |
| (D) Communes | (IV) Fixed quantities traded at prices set by the government and the rest at market prices |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → (A)-(II), (B)-(I), (C)-(IV), (D)-(III)
These four Chinese terms sound alike but mean different things.
| List-I | List-II | Reason |
|---|---|---|
| (A) Township and village enterprises | (II) Owned and operated by local collectives | They were run by local collectives and allowed to produce goods in the later reforms. |
| (B) State Owned Enterprises | (I) Made to face competition during the reforms | These government-owned firms, India’s public sector enterprises, had to face competition. |
| (C) Dual pricing | (IV) Fixed quantities traded at prices set by the government and the rest at market prices | Prices were fixed in two ways. |
| (D) Communes | (III) Rural units with governmental, political and economic functions | Communes were the highest rural administrative level, with all three kinds of functions. |
NCERT (2026-27): “8.2 Developmental Path—a Snapshot View … In the later phase, reforms were initiated in the industrial sector. Private sector firms, in general, and township and village enterprises, i.e., those enterprises which were owned and operated by local collectives, in particular, were allowed to produce goods. At this stage, enterprises owned by government (known as State Owned Enterprises—SOEs), which we, in India, call public sector enterprises, were made to face competition. The reform process also involved dual pricing. This means fixing the prices in two ways; farmers and industrial units were required to buy and sell fixed quantities of inputs and outputs on the basis of prices fixed by the government and the rest were purchased and sold at market prices. …” Glossary: “Communes – Known as people’s communes, or renmin gongshe in China, were formerly the highest of three administrative levels in rural areas in the period from 1958 to 1982-85, when they were replaced by townships. Communes, the largest collective units, were divided in turn into production brigades and production teams. The communes had governmental, political, and economic functions.” |