| Group ‘A’ | Group ‘B’ |
| (1) Contraction in demand | (a) Less is demanded at a same price |
| (2) Decrease in demand | (b) Complementary goods |
| (3) Demand curve | (c) Substitute goods |
| (4) Tea and Coffee | (d) Less is demanded at a higher price |
| (e) Slopes downwards from left to right |
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| Group ‘A’ | Group ‘B’ |
| 1. Salt | (a) Demand curve parallel to ‘X’ axis |
| 2. Income elasticity | (b) Flatter in shape |
| 3. Perfectly elastic demand | (c) Related goods |
| 4. Relatively elastic demand | (d) Inelastic demand |
| 5. Cross elasticity | (e) Change in demand due to change in income |
| Group ‘A’ | Group ‘B’ |
| 1. Ordinal measurement | (a)Maximum TU |
| 2. Principles of Economics | (b) $M U_X>P_X$ |
| 3. Point of satiety | (c) Prof. Alfred Marshall |
| 4. Consumer’s equilibrium | (d) Grading of utility |
| (e) $M U_X>P_X$ |
| Group ‘A’ | Group ‘B’ |
| 1. Very short period | (a) More than 5 years |
| 2. Short period | (b) Less than 1 year |
| 3. Long period | (c)Few days or weeks |
| 4. Very long period | (d) Upto 5 years |
| Group ‘A’ | Group ‘B’ |
| (1) Factor of Production | (a) Other things being equal |
| (2) Ceteris Paribus | (b) Land |
| (3) Price theory | (c) Micro economics |
| (4) Lumping method | (d) Profit |
| (e)Whole economy |
| Group ‘A’ | Group ‘B’ |
| (1) Joint Demand | (a) Luxury car |
| (2) Demand and price | (b) Exception to the law of demand |
| (3) Giffen’s goods | (c) Inverse relationship |
| (4) Prestige goods | (d) Several commodities |
| (e) Vegetables |
| Group ‘A’ | Group ‘B’ |
| Demat Account | (a) Commercial Bank |
| Overdraft | (b)Ancillary function |
| Credit creation | (c) 1949 |
| Banking Regulation Act | (d) 1935 |
| (e) Amount withdrawn above the actual balance |
| Group ‘A’ | Group ‘B’ |
| Expenditure Method | Inventory method |
| GDP | C + I + G + (X-M) + (R-P) |
| National income | Micro economic concept |
| Unpaid services | Services of housewife |
| Group ‘A’ | Group ‘B’ |
| 1. Individual supply | Potential supply |
| 2. Determinants of law of supply | Infrastructural facilities |
| 3. Assumption of the law of supply | Change in government policy |
| Group ‘A’ | Group ‘B’ |
| 1. $MC_n$ | $TC_n – TC_{n-1}$ |
| 2. TR | Q/P |
| 3. AR | TR x TQ |
| Group ‘A’ | Group ‘B’ |
| 1. Essential commodities | (a) flatter in shape |
| 2. Unitary elastic demand | (b) change in income |
| 3. Elasticity of demand | (c) Ed = 1 |
| 4. Relatively elastic demand | (d) Prof. Alfred Marshall |
| 5. Income Elasticity | (e) Inelastic demand |