Match List-I with List-II: Choose the correct option from those given below:List-I List-II (a) Various combinations that a consumer can purchase (i) Indifference map (b) Various combinations of two commodities providing equal satisfaction to consumer (ii) Indifference curve (c) A set of indifference curves (iii) Budget line (d) Point of tangency of a budget line on an indifference curve (iv) Consumer's equilibrium
(a)-(iii), (b)-(ii), (c)-(i), (d)-(iv)
The matches are (a)–(iii), (b)–(ii), (c)–(i), (d)–(iv). A budget line shows bundles exhausting the budget; an indifference curve shows equal-utility bundles; an indifference map is a family of such curves. With the usual convex preferences and an interior optimum, tangency identifies consumer equilibrium.
Important Questions from Economy
- At the time of independence, which sector contributed the largest share to India's national income?
- Which of the following is an example of soft infrastructure?
- Which of the following statements regarding the estimation of India's national and per capita income during the colonial rule is correct?
What was one of the major characteristics of India's economy at the time of independence in 1947?
- The Fiscal Responsibility and Budget Management (FRBM) Act set limits on the fiscal deficit and public debt. What was the fiscal deficit target under the original FRBM Act by 2008-09?
