Economics · Market Equilibrium
Match List I with List II regarding Market Equilibrium: List I (a) Excess demand (b) Excess supply (c) Price ceiling (d) Price floor List II (i) Shortage at prevailing price (ii) Surplus at prevailing price (iii) Maximum price fixed by government (iv) Minimum price fixed by government Choose the correct option:
- 1(a)-(ii), (b)-(i), (c)-(iv), (d)-(iii)
- 2(a)-(i), (b)-(ii), (c)-(iii), (d)-(iv)✓
- 3(a)-(iii), (b)-(iv), (c)-(i), (d)-(ii)
- 4(a)-(iv), (b)-(iii), (c)-(ii), (d)-(i)
Correct answer
(a)-(i), (b)-(ii), (c)-(iii), (d)-(iv)
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