Match List-I with List-II
|
List-I |
List-II |
|
(A) Excess demand |
(I) Supernormal profits |
|
(B) Excess supply |
(II) Perfect competition |
|
(C) Entry of new firms in the market |
(III) Price tends to fall |
|
(D) Price taker |
(IV) Price tends to rise |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → (A)-(IV), (B)-(III), (C)-(I), (D)-(II)
|
List-I |
List-II |
|
(A) Excess demand |
(IV) Price tends to rise |
|
(B) Excess supply |
(III) Price tends to fall |
|
(C) Entry of new firms in the market |
(I) Supernormal profits |
|
(D) Price taker |
(II) Perfect competition |