UNIT-1, NATIONAL INCOME AND RELATED AGGREGATES CLASS 12 CBSE ECONOMICS

UNIT-1, NATIONAL INCOME AND RELATED AGGREGATES

Q1) “Higher Gross Domestic Product(GDP) means greater per capita availability of goods in the economy”. Do you agree with the given statement? Give valid reason in support of your answer.

Q2) Explain with the help of an example, the basis of classifying goods into final goods and intermediate goods.

Q3) Will the following be included in national income of India? Give reasons for your answer.

  • a)      Financial assistance to flood victims.
  • b)      Salaries of Indians working in the American Embassy in India.
  • c)      Profits earned by the branches of a foreign bank in India.

Q4) If in a locality, a park is developed by the municipal corporation, it will have externalities, both positive and negative. State one example each of both types externalities with reason.

Q5) Why is the flow of income and product called a circular flow?

Q 6) How will the following be treated while estimating national income of India? Give Reasons.

  • a)      Value of bonus shares received by shareholders of a company.
  • b)      Fees received from students.
  • c)      Interest received on loan given to a foreign company in India.


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