From the following statement given in column 1 and column 2 , choose the correct pair of statement?
Dear student,
a) Excess demand - iv) Quantity demanded > quantity supplied
b) Excess supply - i) quantity supplied > Quantity demanded
c) Price ceiling - iii) Maximum price
d) Rationing - A method of allocation of limited supply of essential commodities
Regards,
a) Excess demand - iv) Quantity demanded > quantity supplied
b) Excess supply - i) quantity supplied > Quantity demanded
c) Price ceiling - iii) Maximum price
d) Rationing - A method of allocation of limited supply of essential commodities
Regards,