Economics · Demand Theory - Matching Concepts
Match LIST-I with LIST-II: LIST-I (Demand Concept): A. Effective Demand B. Mere Desire C. Individual Demand D. Market Demand LIST-II (Economic Description): I. The quantity a single consumer is willing and able to purchase at various prices II. Analytically irrelevant for economic analysis unless backed by financial capacity III. Derived by horizontally aggregating the choices of all buyers in a market IV. A technical concept encompassing desire, willingness to pay, and ability to pay Choose the correct match from the options below:
- 1A-II, B-IV, C-III, D-I
- 2A-I, B-III, C-II, D-IV
- 3A-III, B-I, C-IV, D-II
- 4A-IV, B-II, C-I, D-III✓
Correct answer
A-IV, B-II, C-I, D-III
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