Question:medium

Match the following:

List - I (Concepts) List - II (Explanation)
A. Economic Agents I. Goods and services that are not necessary for survival but are desired by economic agents.
B. Economic Goods II. Household, firms and the government.
C. Needs III. Resources and products that are limited in supply.
D. Wants IV. Goods and services that are essential for survival.

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Needs are essential for survival, while wants are additional desires.

Updated On: Jun 5, 2026

A-I, B-II, C-III, D-IV
A-II, B-III, C-IV, D-I
A-IV, B-I, C-III, D-II
A-I, B-IV, C-III, D-II

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The Correct Option is B

Solution and Explanation

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