I.Com Part 2 Principles of Economics chapter 1 Short Question Preparation

12th Class Principles of Economics
Chapter 1

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12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 1 "ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation

Question # 1

Define National Income in the words of Prof. Fisher.

  • Ans 1: Quantity of goods and services which is consumed during a year is called national income.
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Prepare Complete Set Wise Questions For Chapter 1 "ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation "

ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation - Set 1

Question # 1

Define National Income in the words of Prof. Fisher.

  • Ans 1: Quantity of goods and services which is consumed during a year is called national income.
Submit

ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation - Set 2

Question # 1

What is meant by Average propensity to consume.

  • Ans 1: 1- Average propensity to consume
  • Ans 2: The ratio between consumption and income is called average propensity to consume. To find average propensity to consume consumption is divided by income average propensity to consume= Comsumption/income
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ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation - Set 3

Question # 1

Explain the concept of National Income.

  • Ans 1: If indirect taxes are subtractedfrom Net National product and subsidies are added in N.N.P get National income. It is the income which is the aggregate of net rewards of four fctors of production e.g. rents + wages+ intrest + profits
  • Ans 2: National income = Net natinal product - indriect taxes + Subsidies
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12th Principles of Economics Chapter 1 Preparation

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