Question

From the set of statements given in Column I and Column II, choose the correct pair of statements:

Column I	Column II
A. Normal goods	(i) Goods the demand for which tends to fall with increase in income.
B. Inferior goods	(ii) Goods which cannot be used in place of one another.
C. Substitute goods	(iii) Goods which can be used in place of one another.
D. Joint demand	(iv) Goods the demand for which rise with increase in income.

Options

• A. (iv), B. (i), C. (ii) D. (iii)

• A. (iii), B. (ii) c. (iv), D. (i)

• A (ii), B. (i), c. (iii), D. (iv)

• A. (iv), B. (i), C. (iii), D. (ii)

Answer 1

A. (iv), B. (i), C. (iii), D. (ii)

Explanation:

Column I	Column II
A. Normal goods	(iv) Goods the demand for which rise with increase in income.
B. Inferior goods	(i) Goods the demand for which tends to fall with increase in income.
C. Substitute goods	(iii) Goods which can be used in place of one another.
D. Joint demand	(ii) Goods which cannot be used in place of one another.