This a MCQ (Multiple Choice Question) based practice test of Chapter 7 - Employment Growth and Other Issues of Economics of Class XI (11) for the quick revision/preparation of School Board examinations
Q The sum of the value of all final goods and services produced within the democratic territory of a country in a year is
GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year. GDP growth rate is an important indicator of the economic performance of a country.
When added net factor income from abroad to GDP we get
Those activities which contributes to GNP are called
Economic activity is the activity of making, providing, purchasing, or selling goods or services. Any action that involves producing, distributing, or consuming products or services is an economic activity. Additionally, any activities involving money or the exchange of products or services are economic activities.
Capital formation in underdeveloped countries is a major bottleneck. The reason can be
Capital formation refers to investment in tools, machinery, buildings etc. inequalities in the economy is also a reason behind this.
Non-farm enterprises include
Non-Farm-Sector (RNFS) includes all economic activities viz., household and non-household manufacturing, handicrafts, processing, repairs, construction, mining and quarrying, transport, trade, communication, community and personal services etc. in rural areas.
The unemployment rate for ______ are found to be higher than for _____
Labour force refers to
Which of the following is false regarding labour force
The service sector includes activities such as:
Work participation rate is
The labor force participation rate is a measure of an economy's active workforce. The formula for the number is the sum of all workers who are employed or actively seeking employment divided by the total noninstitutionalized, civilian working-age population.