Question

Write the answers of the following questions in 60-80 words:

(i) How the poverty line estimated in India?

(ii) What do you mean by Gross Domestic production (GDP) and gross National production (GNP)? Explain it.​

Answer 1

Answer:

(i) A person is considered poor if his or her income or consumption level falls below a given “minimum level” necessary to fulfill the basic needs. In India, the poverty line is estimated by multiplying the prices of physical quantities like food, clothing, footwear, fuel, light, education, etc. in rupees.

(ii) Gross domestic product (GDP) is the value of a nation's finished domestic goods and services during a specific time period. A related but different metric, the gross national product (GNP), is the value of all finished goods and services owned by a country's residents over a period of time.

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Answer 2

Answer:

Your answer for this question.....