Question

From the following statements given in Column I and Column II, choose the correct pair of statements.

Column I	Column II
(A) Stock	1. Upward movement on the supply curve
(B) Increase in supply	2. Total quantity available at a particular point of time
(C) Expansion in supply	3. States direct relationship between price and quantity supplied
(D) Law of supply	4. Supply rises at the same price

Options

• A - 2, B - 4, C - 3, D - 1

• A - 1, B - 2, C - 4, D - 3

• A - 2, B - 4, C - 1, D - 3

• A - 4, B - 2, C - 3, D - 1

Answer 1

A - 2, B - 4, C - 1, D - 3

Explanation:

Column I	Column II
(A) Stock	2. Total quantity available at a particular point of time
(B) Increase in supply	4. Supply rises at the same price
(C) Expansion in supply	1. Upward movement on the supply curve
(D) Law of supply	3. States direct relationship between price and quantity supplied