Question
| Group ‘A’ | Group ‘B’ |
| (1) Demand | (a) Exceptional demand |
| (2) Prestige goods | (b) Prof. Marshall |
| (3) Joint demand | (c) Demand curve shift to right |
| (4) Demand increases | (d) Complementary demand |
| (e) A higher price |
| Group ‘A’ | Group ‘B’ |
| (1) Demand | (a) Exceptional demand |
| (2) Prestige goods | (b) Prof. Marshall |
| (3) Joint demand | (c) Demand curve shift to right |
| (4) Demand increases | (d) Complementary demand |
| (e) A higher price |
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| Group ‘A’ | Group ‘B’ |
| Output method | The final goods approach |
| Income method | Product method |
| Expenditure method | NI = C + I + G |
| Illegal income | income from taxes |
| 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. Increase in supply | Technology up gradation | |
| 2. Exception to law of supply | More supply at higher price | |
| 3. Determination of law of supply | Perishable Goods | |
| 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 |
| Group A | Group B |
| 1. Perfect Competition | (a) Product Differentiation |
| 2. Monopoly | (b) Uniform Price |
| 3. Monopolistic Competition | (c) Few Sellers |
| 4. Oligopoly | (d) Single Seller |
| 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) Index Number | (a) Cost of living |
| (2) Dearness Allowance | (b) Economic Barometer |
| (3) Base year | (c) Wholesale Price Index |
| (4) Whole sale market goods | (d) 100 |
| Group ‘A’ | Group ‘B’ |
| 1. Total utility | (a) Point of Satiety |
| 2. Zero MU | (b) Furniture from wood |
| 3. Time utility | (c) Aggregate of utilities |
| 4. Form utility | (d) Apples for Kashmir |
| (e) Organ donation |
| 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 |
| Group ‘A’ | Group ‘B’ |
| Three sector economy | Households, business firms, foreign sector |
| National income | Money value of final goods and services |
| Output method | Income method |
| NNP | GDP – Depreciation |