Which of the following are correctly matched? 1. Output Market: An economy can trade in goods and services with other countries2. Financial Market: Most often an economy can buy financial assets from other countries3. Labour Market: Consumers and producers can choose between domestic and foreign goodsChoose from the following options.a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of the aboveCorrect answer is option 'A'. Can you explain this answer?

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Which of the following are correctly matched?

1. Output Market: An economy can trade in goods and services with other countries

2. Financial Market: Most often an economy can buy financial assets from other countries

3. Labour Market: Consumers and producers can choose between domestic and foreign goods

Choose from the following options.

a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of the above

Correct answer is option 'A'. Can you explain this answer?

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Test: Class 12 (Macroeconomics) Economy NCERT Based - 2

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Which of the following are correctly matched? 1. Output Market: An ec...

Output Market: An economy can trade in goods and services with other countries. This widens choice in the sense that consumers and producers can choose between domestic and foreign goods.
Financial Market: Most often an economy can buy financial assets from other countries. This gives investors the opportunity to choose between domestic and foreign assets.
Labour Market: Firms can choose where to locate production and workers to choose where to work. There are various immigration laws which restrict the movement of labour between countries.

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Which of the following are correctly matched? 1. Output Market: An economy can trade in goods and services with other countries2. Financial Market: Most often an economy can buy financial assets from other countries3. Labour Market: Consumers and producers can choose between domestic and foreign goodsChoose from the following options.a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of the aboveCorrect answer is option 'A'. Can you explain this answer?

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