Question

Match List-I with List-II:
\begin{tabular{ll} List-I (Term) & List-II (Explanation)
(A) Goods & (I) All the commodities which are bought and sold and have their value
(B) Utility & (II) The power of a commodity to command other commodities in its exchange
(C) Value & (III) All things which satisfy the wants of human being
(D) Wealth & (IV) The capacity or power of a good to satisfy human wants

Choose the correct answer from the options given below:

• (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
• (A) - (II), (B) - (I), (C) - (III), (D) - (IV)
• (A) - (III), (B) - (IV), (C) - (II), (D) - (I)
• (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Hint:

Utility is always defined as the "capacity or power of a good to satisfy human wants" (B - IV).
Value refers to exchange power (C - II).

Answer 1

The Correct Option is C