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Match the items given in Column I with those in Column II and select the correct option.

Matrix:

Column I

Column II
(a)
Market activities
(i)
In or outside the country
(b)
Gross National Product
(ii)
Self consumption
(c)
Non market activities
(iii)
Skilled workforce
(d)
Human capital
(iv)
Pay or profit

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a-ii; b-iv; c-i; d-iii

a-iv; b-i; c-iv; d-iii

a-iv; c-ii; d-iii, b-i

a-iii; b-i; c-iv; d-ii

answer is C.

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Detailed Solution

1)      Market activities are those people perform to get paid or earn profits. An example is a farmer selling his crops to make money.
2)      Gross National Product: The monetary value of all final goods and services produced by the residents living inside or outside the country.
3)      Non-market activities: Non-market activities are the activities done by people for self-consumption. They do not get paid for these activities. An example of this would be the activities undertaken by a homemaker.
4)      Human capital: Human capital refers to the skilled labour force of a country. They can help in the economic development of a country.

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