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 "

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

Question # 1

Write four points of importance of study of national income.

  • Ans 1: 1- Helps to analyse the economic conditions.
  • Ans 2: 2- Helps to examine the economic growth rate of the country.
  • Ans 3: 3- Helps to analyse the economic problems
  • Ans 4: 4- Helps in framing economic policies
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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

Write four points of importance of study of national income.

  • Ans 1: 1- Helps to analyse the economic conditions.
  • Ans 2: 2- Helps to examine the economic growth rate of the country.
  • Ans 3: 3- Helps to analyse the economic problems
  • Ans 4: 4- Helps in framing economic policies
Submit

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

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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ICS Part 2 Economics English Medium Chapter 1 Online Short Questions Test - Set 3

Question # 1

Write precautions of the product method to measure national Income.

  • Ans 1: 1- Avoid double counting. 2- Subtract depreciation allowance.
  • Ans 2: 3- Subtract indirect taxes.
    4- Value of free services should not be counted.
  • Ans 3: 5- Subsidies should be counted.
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ICS Part 2 Economics Chapter 1 Test

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