CUET Preparation Today
Match List-I with List-II
Choose the correct answer from the options given below: |
(A)-(II), (B)-(I), (C)-(IV), (D)-(III) (A)-(I), (B)-(III), (C)-(II), (D)-(IV) (A)-(I), (B)-(II), (C)-(IV), (D)-(III) (A)-(III), (B)-(IV), (C)-(I), (D)-(II) |
(A)-(II), (B)-(I), (C)-(IV), (D)-(III) |
The correct answer is Option (1) → (A)-(II), (B)-(I), (C)-(IV), (D)-(III) (A) Perfect Competition. →(II) Price taking Behavior. Perfect competition is characterized by numerous buyers and sellers, homogeneous products, perfect information, and free entry and exit. Due to the large number of participants and identical products, no single firm or buyer can influence the market price. They must accept the prevailing market price. (B) Increase in Demand = Decrease in Supply → (I) No change in equilibrium price. When the increase in demand is exactly equal to the decrease in supply, the equilibrium price remains unchanged, but the equilibrium quantity may change. (C) Increase in Demand > Decrease in Supply → (IV) Increase in equilibrium price. Here, the net effect is excess demand, pushing the price upward. (D) Increase in Supply > Decrease in Demand → (III) Decrease in equilibrium price. The net effect is excess supply, which puts downward pressure on price. |
