{"id":54303,"date":"2024-04-16T00:07:53","date_gmt":"2024-04-16T00:07:53","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=54303"},"modified":"2024-04-16T00:07:53","modified_gmt":"2024-04-16T00:07:53","slug":"match-the-following-list-i-list-ii-a-substitute-goods-1-income-effect-is-positive-b-complementary-goods-2-tea-and-coffee-c-normal-goods-3-car-and-petrol-d-inferior-goods-4-income-effect-is-ne","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/match-the-following-list-i-list-ii-a-substitute-goods-1-income-effect-is-positive-b-complementary-goods-2-tea-and-coffee-c-normal-goods-3-car-and-petrol-d-inferior-goods-4-income-effect-is-ne\/","title":{"rendered":"Match the following. List-I List-II a. Substitute goods 1. Income effect is positive b. Complementary goods 2. Tea and coffee c. Normal goods 3. Car and petrol d. Inferior goods 4. Income effect is negative"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;a-2, b-3, c-1, d-4&#8243; option2=&#8221;a-1, b-2, c-3, d-4&#8243; option3=&#8221;a-1, b-4, c-3, d-2&#8243; option4=&#8221;a-4, b-3, c-2, d-1&#8243; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: A. a-2, b-3, c-1, d-4.<\/p>\n<ul>\n<li>Substitute goods are goods that can be used in place of each other. For example, tea and coffee are substitute goods. If the price of tea increases, people will tend to buy more coffee instead.<\/li>\n<li>Complementary goods are goods that are used together. For example, cars and petrol are complementary goods. If the price of cars decreases, people will tend to buy more cars, which will increase the demand for petrol.<\/li>\n<li>Normal goods are goods that people demand more of as their income increases. For example, cars are normal goods. If people&#8217;s incomes increase, they will tend to buy more cars.<\/li>\n<li>Inferior goods are goods that people demand less of as their income increases. For example, rice is an inferior good in many developing countries. As people&#8217;s incomes increase, they tend to buy less rice and more meat.<\/li>\n<\/ul>\n<p>In the question, a-2, b-3, c-1, d-4 is the only option that correctly matches the items in List-I with the items in List-II.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;a-2, b-3, c-1, d-4&#8243; option2=&#8221;a-1, b-2, c-3, d-4&#8243; option3=&#8221;a-1, b-4, c-3, d-2&#8243; option4=&#8221;a-4, b-3, c-2, d-1&#8243; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-54303","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Match the following. List-I List-II a. Substitute goods 1. Income effect is positive b. Complementary goods 2. Tea and coffee c. Normal goods 3. Car and petrol d. Inferior goods 4. Income effect is negative<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/match-the-following-list-i-list-ii-a-substitute-goods-1-income-effect-is-positive-b-complementary-goods-2-tea-and-coffee-c-normal-goods-3-car-and-petrol-d-inferior-goods-4-income-effect-is-ne\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Match the following. List-I List-II a. Substitute goods 1. Income effect is positive b. Complementary goods 2. Tea and coffee c. Normal goods 3. Car and petrol d. Inferior goods 4. Income effect is negative\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;a-2, b-3, c-1, d-4&#8243; option2=&#8221;a-1, b-2, c-3, d-4&#8243; option3=&#8221;a-1, b-4, c-3, d-2&#8243; option4=&#8221;a-4, b-3, c-2, d-1&#8243; correct=&#8221;option1&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/match-the-following-list-i-list-ii-a-substitute-goods-1-income-effect-is-positive-b-complementary-goods-2-tea-and-coffee-c-normal-goods-3-car-and-petrol-d-inferior-goods-4-income-effect-is-ne\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T00:07:53+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Match the following. List-I List-II a. Substitute goods 1. Income effect is positive b. Complementary goods 2. Tea and coffee c. Normal goods 3. Car and petrol d. Inferior goods 4. Income effect is negative","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/match-the-following-list-i-list-ii-a-substitute-goods-1-income-effect-is-positive-b-complementary-goods-2-tea-and-coffee-c-normal-goods-3-car-and-petrol-d-inferior-goods-4-income-effect-is-ne\/","og_locale":"en_US","og_type":"article","og_title":"Match the following. List-I List-II a. Substitute goods 1. Income effect is positive b. Complementary goods 2. Tea and coffee c. Normal goods 3. Car and petrol d. Inferior goods 4. 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