Practice Final Goods and Services - 1.1.1 | Chapter 6: National Income | ICSE Class 12 Economics
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define National Income in your own words.

💡 Hint: Think about how it relates to economic health.

Question 2

Easy

What are final goods? Give an example.

💡 Hint: Consider what items you can buy in a store.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does National Income measure?

  • Total monetary value of finished goods
  • Total production costs
  • Only government expenditure

💡 Hint: Think about what counts as a completed item.

Question 2

True or False: National Income includes income from foreign production.

  • True
  • False

💡 Hint: Consider how international earnings factor into the economy.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A country has a high National Income but significant income inequality. Discuss the implications.

💡 Hint: Reflect on how wealth is shared within the population.

Question 2

Consider the environmental impact. How should National Income accounting adapt to include ecological factors?

💡 Hint: Think about what is sustainable versus what is profitable.

Challenge and get performance evaluation