Plus Two / 12th Economics - Book Back Answers - Chapter 2 - English Medium
Chapter 2: National Income
Tamil Nadu Board 12th Standard Economics - Chapter 2: Book Back Answers and Solutions
This post covers the book back answers and solutions for Chapter 2 from the Tamil Nadu State Board 12th Standard Economics textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.
We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.
By going through this material, you’ll gain a strong understanding of Chapter 2 along with the corresponding book back questions and answers (PDF format).
Question Types Covered:
- 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following
- 2 Mark Questions: Answer briefly
- 3, 4, and 5 Mark Questions: Answer in detail
All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.
All the best, Class 12 students! Prepare well and aim for top scores. Thank you!
Chapter 2: National Income
I. Choose the correct answer.
1. Net National product at factor cost is also known as
(a) National Income
(b) Domestic Income
(c) Per capita Income
(d) Salary.
Answer Key:
(a) National Income
2. Primary sector is________.
(a) Industry
(b) Trade
(c) Agriculture
(d) Construction.
Answer Key:
(c) Agriculture
3. National income is measured by using _____________ methods.
(a) Two
(b) Three
(c) Five
(d) Four
Answer Key:
(b) Three
4. Income method is measured by summing up of all forms of ___________
(a) Production
(b) Taxes
(c) expenditure
(d) Income
Answer Key:
(d) Income
5. Which is the largest figure?
(a) Disposable income
(b) Personal Income
(c) NNP
(d) GNP
Answer Key:
(d) GNP
6. Expenditure method is used to estimate national income in ______________
(a) Construction sector
(b) Agricultural Sector
(c) Service sector
(d) Banking sector
Answer Key:
(a) Construction sector
7. Tertiary sector is also called as ____________. sector
(a) Service
(b) Income
(c) Industrial
(d) Production
Answer Key:
(a) Service
8. National income is a measure of the _____________ performance of an economy.
(a) Industrial
(b) Agricultural
(c) Economic
(d) Consumption
Answer Key:
(c) Economic
9. Per capita income is obtained by dividing the National income by ___________
(a) Production
(b) Population of a country
(c) Expenditure
(d) GNP
Answer Key:
(b) Population of a country
10. GNP = ________________+ Net factor income from abroad.
(a) NNP
(b) NDP
(c) GDP
(d) Personal income
Answer Key:
(c) GDP
11. NNP stands for _____________
(a) Net National Product
(b) National Net product
(c) National Net Provident
(d) Net National Provident
Answer Key:
(a) Net National Product
12. ______________is deducted from gross value to get the net value.
(a) Income
(b) Depreciation
(c) Expenditure
(d) Value of final goods
Answer Key:
(b) Depreciation
13. The financial year in India is___________
(a) April 1 to March 31
(b) March 1 to April 30
(c) March 1 to March 16
(d) January 1 to December 31
Answer Key:
(a) April 1 to March 31
14. When net factor income from abroad is deducted from NNP, the net value is____________
(a) Gross National Product
(b) Disposable Income
(c) Net Domestic Product
(d) Personal Income
Answer Key:
(c) Net Domestic Product
15. The value of NNP at production point is called __________
(a) NNP at factor cost
(b) NNP at market cost
(c) GNP at factor cost
(d) Per capita income
Answer Key:
(a) NNP at factor cost
16. The average income of the country is _____________
(a) Personal Income
(b) Per capita income
(c) Inflation Rate
(d) Disposal Income
Answer Key:
(b) Per capita income
17. The value of national income adjusted for inflation is called ______________
(a) Inflation Rate
(b) Disposal Income
(c) GNP
(d) Real national income
Answer Key:
(d) Real national income
18. Which is a flow concept ?
(a) Number of shirts
(b) Total wealth
(c) Monthly income
(d) Money supply
Answer Key:
(c) Monthly income
19. PQLI is the indicator of ________
(a) Economic growth
(b) Economic welfare
(c) Economic progress
(d) Economic development
Answer Key:
(b) Economic welfare
20. The largest proportion of national income comes from __________
(a) Private sector
(b) Local sector
(c) Public sector
(d) None of the above
Answer Key:
(a) Private sector
(a) National Income
(b) Domestic Income
(c) Per capita Income
(d) Salary.
Answer Key:
(a) National Income
2. Primary sector is________.
(a) Industry
(b) Trade
(c) Agriculture
(d) Construction.
Answer Key:
(c) Agriculture
3. National income is measured by using _____________ methods.
(a) Two
(b) Three
(c) Five
(d) Four
Answer Key:
(b) Three
4. Income method is measured by summing up of all forms of ___________
(a) Production
(b) Taxes
(c) expenditure
(d) Income
Answer Key:
(d) Income
5. Which is the largest figure?
(a) Disposable income
(b) Personal Income
(c) NNP
(d) GNP
Answer Key:
(d) GNP
6. Expenditure method is used to estimate national income in ______________
(a) Construction sector
(b) Agricultural Sector
(c) Service sector
(d) Banking sector
Answer Key:
(a) Construction sector
7. Tertiary sector is also called as ____________. sector
(a) Service
(b) Income
(c) Industrial
(d) Production
Answer Key:
(a) Service
8. National income is a measure of the _____________ performance of an economy.
(a) Industrial
(b) Agricultural
(c) Economic
(d) Consumption
Answer Key:
(c) Economic
9. Per capita income is obtained by dividing the National income by ___________
(a) Production
(b) Population of a country
(c) Expenditure
(d) GNP
Answer Key:
(b) Population of a country
10. GNP = ________________+ Net factor income from abroad.
(a) NNP
(b) NDP
(c) GDP
(d) Personal income
Answer Key:
(c) GDP
11. NNP stands for _____________
(a) Net National Product
(b) National Net product
(c) National Net Provident
(d) Net National Provident
Answer Key:
(a) Net National Product
12. ______________is deducted from gross value to get the net value.
(a) Income
(b) Depreciation
(c) Expenditure
(d) Value of final goods
Answer Key:
(b) Depreciation
13. The financial year in India is___________
(a) April 1 to March 31
(b) March 1 to April 30
(c) March 1 to March 16
(d) January 1 to December 31
Answer Key:
(a) April 1 to March 31
14. When net factor income from abroad is deducted from NNP, the net value is____________
(a) Gross National Product
(b) Disposable Income
(c) Net Domestic Product
(d) Personal Income
Answer Key:
(c) Net Domestic Product
15. The value of NNP at production point is called __________
(a) NNP at factor cost
(b) NNP at market cost
(c) GNP at factor cost
(d) Per capita income
Answer Key:
(a) NNP at factor cost
16. The average income of the country is _____________
(a) Personal Income
(b) Per capita income
(c) Inflation Rate
(d) Disposal Income
Answer Key:
(b) Per capita income
17. The value of national income adjusted for inflation is called ______________
(a) Inflation Rate
(b) Disposal Income
(c) GNP
(d) Real national income
Answer Key:
(d) Real national income
18. Which is a flow concept ?
(a) Number of shirts
(b) Total wealth
(c) Monthly income
(d) Money supply
Answer Key:
(c) Monthly income
19. PQLI is the indicator of ________
(a) Economic growth
(b) Economic welfare
(c) Economic progress
(d) Economic development
Answer Key:
(b) Economic welfare
20. The largest proportion of national income comes from __________
(a) Private sector
(b) Local sector
(c) Public sector
(d) None of the above
Answer Key:
(a) Private sector
II.Answer the following questions.
12th Economics (soon)
III. Answer the following questions.
12th Economics (Soon)
IV. Answer the following questions.
12th Economics (Soon)
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