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WorksheetsBasic concepts related to national Income
Total questions: 20
Worksheet time: 10mins
Which of the following are covered under the domestic territory of India?
State bank of India in London
Google office in India
Office of Tata motors in Australia
Russian Embassy in India
Which one of the following is an intermediate product?
purchases of pulses by consumers
Machine purchased by a firm
wheat purchased by a flour mill
Wheat used by households
Which one of the following is not an example of final goods?
Chalk, dusters, etc. purchased by a school
Fertilizers used by the farmers
Wheat used by the flour mill
All of the above
Which of the following constitute the reason for difference between market price and factor cost?
Indirect taxes
Subsidies
Both Indirect taxes and subsidies
Neither Indirect Taxes nor subsidies
If factor cost is greater than the market price, then it means that:
Indirect Taxes > Subsidies
Indirect Taxes = Subsidies
Indirect taxes < subsidies
Indirect taxes >= Subsidies
Final goods refer to those goods which are used either for.................... or for........................ .
Consumption, investment
Consumption, resale
Resale, investment
Resale, further production
Net factor income from abroad is:
Exports minus imports
Visible Exports minus visible imports
Factor incomes received from abroad minus factor incomes paid abroad
Factor incomes received from abroad
Depreciation means:
Destruction of a plant in a fire accident
Loss of fixed assets over time due to wear and tear
Loss of fixed assets in an earthquake
Closure of the plant due to lockout
Market price and factor cost will be equal when there is:
No direct taxes
No Indirect taxes
No subsidy
No Indirect tax and no subsidy
Which of the following is an example of transfer income?
Bonus
Unemployment Allowance
Compensation from the employer
All of the above
Which of the following is an example of Intermediate goods?
Car sold by a dealer of second hand cars
Steel and cement used to construct a flyover
Fertilizers purchased by a farmer
All of these
Sugar purchased by a Sweet shop is an......... good, while it is a .............................good when it is purchased by a consumer
Capital, final
final, intermediate
intermediate, final
final, producer
Identify the missing item in the following flow chart
Depreciation
Net indirect Taxes
Net factor income from abroad
Indirect taxes
Which of the following flow chart correctly establish the treatment of 'Depreciation'?
Depreciation of fixed capital assets refers to:
Normal wear and tear
foreseen obsolescence
Normal wear & tear & foreseen obsolescence
Unforeseen obsolescence
Unforeseen obsolescence of fixed capital assets during production is:
Consumption of fixed capital
Capital loss
Income loss
None of the above
Refrigerator purchased by a confectionery shop is an example of:
Final good
Intermediate Good
Capital Good
Both Final goods & Capital goods
Which of the following is an example of Non-durable good?
Milk
Bread
Both Milk and bread
Clothes
Addition to the capital stock of an economy is termed as:
Investment
Capital loss
Consumption of Fixed capital
All of these
Japanese Embassy in India is a part of domestic territory of:
India
Japan
Both India and Japan
International Area
