Question

Match List-I with List-II

List-I (Book)	List-II (Author)
(A) Principles of Economics	(I) Prof Lionel Robbins
(B) The Nature and Significance of Economic Science	(II) Prof Alfred Marshall
(C) The Pure Theory of Capital	(III) John Maynard Keynes
(D) The General Theory of Employment, Interest and Money	(IV) F.A. Hayek

Choose the correct answer from the options given below

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

Hint:

To quickly match these classic books:
Marshall \(\rightarrow\) Principles of Economics (1890).
Keynes \(\rightarrow\) General Theory (1936).
Robbins \(\rightarrow\) Scarcity definition (1932).

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
Economic science has been shaped by landmark books published by famous economists.
These books introduced key definitions and schools of thought that defined modern economic theory.

Step 2: Detailed Explanation:
Let us analyze and match each book with its famous author:
1.*Principles of Economics* (A): Written by the classical economist Prof. Alfred Marshall and published in 1890, this book introduced the welfare-based definition of economics and formalized concepts like marginal utility and consumer surplus.
Thus, (A) matches with (II).
2.*The Nature and Significance of Economic Science* (B): Written by Prof. Lionel Robbins and published in 1932, this book defined economics as the science of scarcity and choice under limited resources.
Thus, (B) matches with (I).
3.*The Pure Theory of Capital* (C): Written by the Austrian-British economist Friedrich A. Hayek (F.A. Hayek) and published in 1941, this book analyzed capital, interest, and trade cycles.
Thus, (C) matches with (IV).
4.*The General Theory of Employment, Interest and Money* (D): Written by John Maynard Keynes and published in 1936, this landmark book laid the foundation of modern macroeconomics.
Thus, (D) matches with (III).
Combining these matches:
\[ \text{(A)-(II), (B)-(I), (C)-(IV), (D)-(III)} \]

Step 3: Final Answer:
The correct matching sequence is (A) - (II), (B) - (I), (C) - (IV), (D) - (III).