Match List-I with List-II. List-I

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Home Questions VXXJASMV9A

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:

Match List-I with List-II.

List-I		List-II
(A)	Licensing Policy	(I)	Quantity of goods which can be imported
(B)	Tariff	(II)	Inward looking trade strategy
(C)	Quota	(III)	Promotes regional equality
(D)	Import substitution	(IV)	Tax on imported goods

Choose the correct answer from the options given below :

Options:

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

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

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

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

Correct Answer:

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

Explanation:

The correct answer is option (4) : (A)-(III), (B)-(IV), (C)-(I), (D)- (II)

(A) Licensing Policy → (III) Promotes regional equality. Licensing was used to regulate the location and expansion of industries so that industrial development could be spread across different regions, thereby promoting regional equality.
(B) Tariff → (IV) Tax on imported goods. A tariff is a tax imposed on imported goods to make them more expensive and protect domestic industries.
(C) Quota → (I) Quantity of goods which can be imported. A quota specifies the maximum quantity of a good that can be imported during a given period.
(D) Import substitution → (II) Inward looking trade strategy. Import substitution aims to replace imported goods with domestically produced goods and is therefore an inward-looking trade strategy.