Question
| Group ‘A’ | Group ‘B’ |
| (1) Sir Robert Giffen | England |
| (2) Increase in real income | Decrease in demand |
| (3) Inferior goods | Bread |
| (4) Superior goods | Meat |
| Group ‘A’ | Group ‘B’ |
| (1) Sir Robert Giffen | England |
| (2) Increase in real income | Decrease in demand |
| (3) Inferior goods | Bread |
| (4) Superior goods | Meat |
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| Group ‘A’ | Group ‘B’ |
| 1. Central Bank | Apex Banking Institution |
| 2. Clearing House system | Specialised institution for agriculture |
| 3. Credit Control | Quantitative measure |
| 4. Money Market | Short term fund |
| Group ‘A’ | Group ‘B’ |
| 1. Total Output | Sum of quantity produced |
| 2. Stock | Reservation Price |
| 3. Supply | Quantity offered for sale |
| Group ‘A’ | Group ‘B’ |
| Transfer income | pension/ gifts |
| National Income | flow concept |
| Gross Domestic Product (GDP) | C + I + G + (X – M) + (R-P) |
| CSO | Estimation of NI |
| Group ‘A’ | Group ‘B’ |
| 1. Commercial Bank | Acceptance of Deposit |
| 2. IFCI | 1948 |
| 3. Co-operative Credit Society Act | 1904 |
| 4 Discount and Finance House of India | 1980 |
| Group ‘A’ | Group ‘B’ |
| 1. Primary goods | Jute, cotton, tea |
| 2. Invisible goods | Cloth, medicine, car |
| 3. Capital goods | Machinery, technology, steel |
| Group ‘A’ | Group ‘B’ |
| (i) Inferior goods | Giffen goods |
| (2) Prestige goods | Luxury goods |
| (3) Expanasion of demand | Fall in price |
| (4) Increase in demand | Unfavourable changes in other factors |
| Group ‘A’ | Group ‘B’ |
| (1) Individual demand | Individual consumer |
| (2) Joint demand | Tea-coffee |
| (3) Variation in demand | Other factors remaining constant |
| (4) Decrease in demand | Price remains constant |
| Group ‘A’ | Group ‘B’ |
| (1) Maynard Keynes | Macro economic approach |
| (2) Micro | Mikros |
| (3) Adam Smith | Classical economist |
| (4) Census | Limited scope |
| Group ‘A’ | Group ‘B’ |
| The Output method | Product method |
| India used | Expenditure method |
| USA, UK | Income method |
| Illegal Income | Theoretical difficulty |
| Group ‘A’ | Group ‘B’ |
| 1. Disutilit | Negative MU |
| 2. Homogeneity | Identical unit |
| 3. Law of DMU | Explained by Prof. Gossen |
| 4. Maximum TU | Zero MU |