Match List-I with List-II
List-I List-II (A) Food Availability Decline (FAD Theory) (I) Maximum Price (B) Price Ceiling (II) Entitlement Failure (C) Floor Price (III) Minimum Support Price (D) Public Distribution System (IV) Fair price Shops
Choose the correct answer from the options given below:
Match List-I with List-II
| List-I | List-II |
|---|---|
| (A) Food Availability Decline (FAD Theory) | (I) Maximum Price |
| (B) Price Ceiling | (II) Entitlement Failure |
| (C) Floor Price | (III) Minimum Support Price |
| (D) Public Distribution System | (IV) Fair price Shops |
Choose the correct answer from the options given below:
Solution
Option 2: (A) - (II), (B) - (I), (C) - (III), (D) - (IV) -> (A) Food Availability Decline (FAD) Theory relates to Entitlement Failure as Amartya Sen criticized FAD and proposed that famines occur due to entitlement failure rather than just food shortage. (B) Price Ceiling is a Maximum Price set by government below equilibrium to protect consumers. (C) Floor Price is the Minimum Support Price (MSP) set by government to protect producers, especially farmers. (D) Public Distribution System operates through Fair Price Shops that distribute essential commodities at subsidized rates to beneficiaries. -> correct