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Question
Match the following Group ‘A’ with Group ‘B’ :
|
Group ‘A’ |
Group ‘B’ |
||
| (a) |
Economics | (1) | not steady |
| (b) |
Reward of capital | (2) | 1 April, 1935 |
| (c) |
Value of money | (3) | Social science |
| (d) |
Establishment of Central Bank | (4) | Income from commodity tax |
| (e) | Sales tax | (5) | Natural science |
| (6) | Interest |
||
| (7) | 1 April, 1939 | ||
Solution
| Group ‘A’ | Group ‘B’ | ||
| (a) | Economics | (3) | Social science |
| (b) | Reward of capital | (6) | Interest |
| (c) | Value of money | (1) | not steady |
| (d) | Establishment of Central Bank | (2) | 1 April, 1935 |
| (e) | Sales tax | (4) | Income from commodity tax |
Explanation:
(a) Economics is a social science which deals with the behaviour of small individual units such as consumer, seller and individual prices of goods in an economy.
(b) Capital is an important factor of production which primarily refers to the stock of capital assets. The reward of capital is the interest received.
(c) Value of money is not steady as it deviates depending upon the demand and supply factors of money in an economy.
(d) The central bank is the apex financial institution in India. It was established on 1st April, 1935. It controls the money supply as it is the sole issuer of currency notes in India.
(e) Sales tax refers to the income from commodity tax. A sales tax primarily is a tax paid to the government for the sales of certain goods and services.
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