Match LIST I with LIST II LIST I LIST II A Quotas I Monetary assistance given by government for production activities B Import substitution II Government protects domestic industries from foreign competition C Tariffs III Tax on imported goods D Subsidy IV Specify the quantity of goods which can be imported Choose the Correct answer from the options given below

Question

Match LIST I with LIST II LIST I   LIST II    A Quotas  I Monetary assistance given by government for production activities B  Import substitution II Government protects domestic industries from foreign competition  C Tariffs  III Tax on imported goods D Subsidy  IV Specify the quantity of goods which can be imported Choose the Correct answer from the options given below

cdquestions Admin · Accepted Answer

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

List - I	List - II
(A) Normal goods	(I) These goods are consumed together
(B) Inferior goods	(II) Demand for the good decreases as income of the consumer increases
(C) Substitute goods	(III) These goods are used in place of each other
(D) Complementary goods	(IV) Demand for the good increases as income of consumer increases

The Correct Option is A

Solution and Explanation

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LIST I		LIST II
A	Quotas	I	Monetary assistance given by government for production activities
B	Import substitution	II	Government protects domestic industries from foreign competition
C	Tariffs	III	Tax on imported goods
D	Subsidy	IV	Specify the quantity of goods which can be imported