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SS2: ECONOMICS - 3RD TERM

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  1. Public Finance I | Week 1
    5 Topics
  2. Public Finance II | Week 2
    7 Topics
    |
    1 Quiz
  3. Balanced and Unbalanced Budgets| Week 3
    5 Topics
    |
    1 Quiz
  4. Elements of National Income Accounting | Week 4
    5 Topics
  5. Elements of National Income Accounting II | Week 5
    6 Topics
  6. Income Determination | Week 6
    4 Topics
    |
    1 Quiz
  7. Financial Market | Week 7
    1 Topic
  8. Demand for and Supply of Money | Week 8
    8 Topics
    |
    1 Quiz
  9. Inflation | Week 9
    7 Topics
  10. Deflation | Week 10
    5 Topics
    |
    1 Quiz



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Evaluation 

1. List the ways of measuring national income 

2. Explain the uses of national income

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Responses

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Evaluation Questions

1. List the ways of measuring national income 

Answer – 

(i) Income approach

(ii) Expenditure approach

(iii) Output approach

 

2. Explain the uses of national income

Answer – 

(i) It helps to determine the standard of living

(ii) It determines the total income earned by the citizens of a country

(iii) It measures economic development

(iv) It enables us to know the contribution made by the various sectors of the economy

(v) It helps in the circulation of per capita income

(vi) It is used to determine the pattern of expenditure in a country

(vii) It can be used to assess the effectiveness of development plans and economic progress.

(viii) It can be used as an effective tool in the allocation of scarce resources

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