Question

Match List-I with List-II

List-I	List-II
(A) Theory of Big Push	(III) Rosenstein Rodan
(B) Theory of Unbalanced Growth	(II) Albert Hirschman
(C) Division of Labour	(I) Adam Smith
(D) Reserve Army of Labour	(IV) Karl Marx

• (A) - (III), (B) - (II), (C) - (I), (D) - (IV)
• (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
• (A) - (II), (B) - (III), (C) - (IV), (D) - (I)
• (A) - (IV), (B) - (III), (C) - (I), (D) - (II)

Hint:

Create a small table associating major economists with their key theories: Adam Smith (Division of Labour, Invisible Hand), Karl Marx (Class Struggle, Reserve Army of Labour), Rosenstein-Rodan (Big Push), Hirschman (Unbalanced Growth). This is very helpful for matching-type questions.

Answer 1

The Correct Option is A

Step 1: Analyzing and Matching Each Economic Theory/Concept:


(A) Theory of Big Push: This theory in development economics suggests that a large, coordinated investment across multiple industries is necessary for a developing country to industrialize. This theory was proposed by Paul Rosenstein-Rodan. This matches with (III).
(B) Theory of unbalanced growth: This theory argues that to stimulate development, investment should be concentrated in specific key sectors rather than being spread thinly across all sectors. This concept is strongly associated with Albert Hirschman. This matches with (II).
(C) Division of Labour: This is the concept of specialization of labor in specific, circumscribed tasks and roles, intended to increase efficiency. It is a cornerstone of classical economics, famously articulated by Adam Smith in "The Wealth of Nations". This matches with (I).
(D) Reserve Army of Labour: This is a central concept in the economic theory of Karl Marx. It refers to the structural unemployment and underemployment inherent in capitalist economies, which keeps wages down and workers disciplined. This matches with (IV).

Step 2: Forming the Correct Combination:
The correct pairings are: A $\rightarrow$ III, B $\rightarrow$ II, C $\rightarrow$ I, D $\rightarrow$ IV.

Step 3: Final Answer:
Looking at the options, option (A) perfectly matches our derived sequence.