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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
  • a)
    Net National product
  • b)
    Net Domestic product
  • c)
    Gross Domestic product
  • d)
    Gross National product
Correct answer is option 'C'. Can you explain this answer?
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This a MCQ (Multiple Choice Question) based practice test of Chapter 7...
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. 
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This a MCQ (Multiple Choice Question) based practice test of Chapter 7...
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Read the following passage and answer on the basis of the same :The subject-matter of economics is divided into two major branches—Microeconomics and Macroeconomics. Microeconomics studies the economic behaviour of individual economic units and individual economic variables, whereas macroeconomics deals with the functioning of the economy as a whole. Macroeconomics dealswith the broad economic aggregates or bigger issues, such as full employment, unemployment, full capacity, under capacity production, inflation or deflation, etc. Macroeconomics is concerned with the theory of national income, employment, aggregate consumption, savings and investment, general price level, economic growth, etc. Whereas, microeconomics is concerned with the theory of product pricing, factor pricing and consumer behaviour, etc.Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause and effect behavioural relationships and includes the development and testing of economic theories. Positive economics is objective and facts based. Whereas normative economics is a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be. Normative economics is subjective and value based.For example, the statement, “government-provided healthcare increases public expenditures” is a positive economic statement and the statement, “government should provide basic healthcare to all citizens” is a normative economic statement.Q. Macroeconomics is concerned with the theory of national income, employment, aggregate consumption, savings and investment, general price level, economic growth.

Read the following passage and answer on the basis of the same : The subject-matter of economics is divided into two major branches—Microeconomics and Macroeconomics. Microeconomics studies the economic behaviour of individual economic units and individual economic variables, whereas macroeconomics deals with the functioning of the economy as a whole. Macroeconomics dealswith the broad economic aggregates or bigger issues, such as full employment, unemployment, full capacity, under capacity production, inflation or deflation, etc. Macroeconomics is concerned with the theory of national income, employment, aggregate consumption, savings and investment, general price level, economic growth, etc. Whereas, microeconomics is concerned with the theory of product pricing, factor pricing and consumer behaviour, etc.Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause and effect behavioural relationships and includes the development and testing of economic theories. Positive economics is objective and facts based. Whereas normative economics is a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be. Normative economics is subjective and value based.For example, the statement, “government-provided healthcare increases public expenditures” is a positive economic statement and the statement, “government should provide basic healthcare to all citizens” is a normative economic statement.Assertion (

Read the following passage and answer on the basis of the same : The subject-matter of economics is divided into two major branches—Microeconomics and Macroeconomics. Microeconomics studies the economic behaviour of individual economic units and individual economic variables, whereas macroeconomics deals with the functioning of the economy as a whole. Macroeconomics dealswith the broad economic aggregates or bigger issues, such as full employment, unemployment, full capacity, under capacity production, inflation or deflation, etc. Macroeconomics is concerned with the theory of national income, employment, aggregate consumption, savings and investment, general price level, economic growth, etc. Whereas, microeconomics is concerned with the theory of product pricing, factor pricing and consumer behaviour, etc.Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause and effect behavioural relationships and includes the development and testing of economic theories. Positive economics is objective and facts based. Whereas normative economics is a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be. Normative economics is subjective and value based.For example, the statement, “government-provided healthcare increases public expenditures” is a positive economic statement and the statement, “government should provide basic healthcare to all citizens” is a normative economic statement.Q. What do you mean by Positive Economics?

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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 examinationsQ The sum of the value of all final goods and services produced within the democratic territory of a country in a year isa)Net National productb)Net Domestic productc)Gross Domestic productd)Gross National productCorrect answer is option 'C'. Can you explain this answer?
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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 examinationsQ The sum of the value of all final goods and services produced within the democratic territory of a country in a year isa)Net National productb)Net Domestic productc)Gross Domestic productd)Gross National productCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about 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 examinationsQ The sum of the value of all final goods and services produced within the democratic territory of a country in a year isa)Net National productb)Net Domestic productc)Gross Domestic productd)Gross National productCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 examinationsQ The sum of the value of all final goods and services produced within the democratic territory of a country in a year isa)Net National productb)Net Domestic productc)Gross Domestic productd)Gross National productCorrect answer is option 'C'. Can you explain this answer?.
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