Related InterviewSolutions

• Identify and Explain the following concepts:Vrinda receives monthly pension of Rs.5,000/- from the State Government.
• Identify and Explain the following concept:Renu paid ₹ 500 for her chest *X’ ray in $ private hospital and for the same ‘X’ ray she paid ₹ 50 in government hospital.
• Identify and Explain the following concept:Anil is a graduate but he is unemployed and receives ₹ 600 from the government.
• Identify and Explain the following concept:Reena studies in government medical college and pays annual fees of ₹ 80,000 per year and Meena who studies in private medical college and pays annual fees of ₹ 8,00,000.
• Identify and Explain the following concept:Suresh regularly purchases sanitizer for ₹ 60, owing to the ‘Corona virus’ outbreak, it disappeared from the market and after few days it was sold at ₹ 100.
• Identify and Explain the following concept:Pooja, a cook earns ₹ 8,000 per month and she also cooks food in her house.
• Which of the following is not included in counting national income through production method?(A) Service of house-wife(B) Goods for self-consumption(C) Goods produced for defense(D) All of these
• State with reasons, whether you agree or disagree with the following statements:Under output method, value added approach is used to avoid double counting.
• Double counting gives a false picture of national income. Give reason.
• How do you count value of finished goods to avoid double counting?