ICS Part 2 Economics English Medium Chapter 1 Short Questions with Answers

Online Short Questions For Chapter 1 "ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test "

Try The Short Questions For ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test

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  • Available Sets3

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Economics - ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test

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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Prepare Complete Set Wise Questions For Chapter 1 "ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test "

ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test - Set 1

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
Submit

ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test - Set 2

Question # 1


What is menat by circular flow if national income.

  • Ans 1: Circulation of national income between households and firms is called circular flow of national income.
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ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test - Set 3

Question # 1


What is menat by circular flow if national income.

  • Ans 1: Circulation of national income between households and firms is called circular flow of national income.
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1st Chapter

ICS Part 2 Economics Chapter 1 Test

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