I. Source and extract based question :-
25. The value of final goods and services produced
in each sector during a particular year provides the
total production of the sector for that year and
sum of reduction in the three sectors gives what is
called the Gross Domestic Product GDP of a
country it is the value of all final goods and
services produced within a country during a
particular year GDP shows how big the economy
is.
(i) Which of the following is true with respect to
final goods?
(a) Final goods are the goods which reached the
consumer.
(b) Market value of final goods is used to calculate
GDP.
( a )only( a)
( b )only (b)
( C )both (a) and (b)
(d) neither (a) and (b)
(ii) Each sector in the paragraph represents:-
(a) primary and household sector
(b) primary sector ,secondary and tertiarysector
(c) primary ,manufacturing and secondary sector
(d) primary Sector ,and service sector
(iii) To calculate GDP we need :
(a) quantity of final goods and services produced in
a country .
(b) prices of final goods and services A. only( a)
( b )only( b )
(c) both (a) and( b)
(d) neither (a) and (b)
(iv) Which of the following is true with reference
to GDP.
(a) it is the best way to compare different nations.
(b) it can be used to compare the growth rate of
various sector of the economy.
A. Only (a)
B. Only (b)
C. Both (a) and (b)
D. Neither (a) and (b)
Answers
Explanation:
I. Source and extract based question :-
25. The value of final goods and services produced
in each sector during a particular year provides the
total production of the sector for that year and
sum of reduction in the three sectors gives what is
called the Gross Domestic Product GDP of a
country it is the value of all final goods and
services produced within a country during a
particular year GDP shows how big the economy
is.
(i) Which of the following is true with respect to
final goods?
(a) Final goods are the goods which reached the
consumer.
(b) Market value of final goods is used to calculate
GDP.
( a )only( a)
( b )only (b)
( C )both (a) and (b)
(d) neither (a) and (b)
(ii) Each sector in the paragraph represents:-
(a) primary and household sector
(b) primary sector ,secondary and tertiarysector
(c) primary ,manufacturing and secondary sector
(d) primary Sector ,and service sector
(iii) To calculate GDP we need :
(a) quantity of final goods and services produced in
a country .
(b) prices of final goods and services A. only( a)
( b )only( b )
(c) both (a) and( b)
(d) neither (a) and (b)
(iv) Which of the following is true with reference
to GDP.
(a) it is the best way to compare different nations.
(b) it can be used to compare the growth rate of
various sector of the economy.
A. Only (a)
B. Only (b)
C. Both (a) and (b)
D. Neither (a) and (b)
_________❤️
Answer:
(1)a
(2)b
(3)b
(4)b
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