Match the LIST-I with LIST-II
LIST-I LIST-II A. Excess Demand I. Factors of production; willing to work but not able to get the work. B. Voluntary unemployment II. It leads to a decline in prices in the long run. C. Deficient Demand III. It leads to a rise in prices in the long run. D. Under employment IV. Factors of production are able but not willing to work.
Choose the correct answer from the options given below:
Match the LIST-I with LIST-II
| LIST-I | LIST-II |
|---|---|
| A. Excess Demand | I. Factors of production; willing to work but not able to get the work. |
| B. Voluntary unemployment | II. It leads to a decline in prices in the long run. |
| C. Deficient Demand | III. It leads to a rise in prices in the long run. |
| D. Under employment | IV. Factors of production are able but not willing to work. |
Choose the correct answer from the options given below:
Solution
✅ Correct Option: 1
Excess demand causes a rise in prices in the long run (III). Voluntary unemployment means factors are able but not willing to work (IV). Deficient demand leads to a decline in prices in the long run (II). Underemployment or involuntary unemployment means factors are willing to work but unable to get work (I). Hence A-III, B-IV, C-II, D-I.
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