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National Income Accounting
Question
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Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school.
(ii) Chalks, dusters purchased by a school.

Answer

(i) Furniture purchased by a school (D 2011) is a final product because it is purchased for investment.
(ii) Chalks purchased by a school (D 2011) is an intermediate product as it is meant to be used completely in the same year.

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Some More Questions From National Income Accounting Chapter

What is meant by macroeconomics?
or
Give two examples of macroeconomic studies. 
or
Why is study of problem of unemployment in India a macroeconomic study?

Define microeconomics. Give one/two examples of microeconomics. Is study of cotton textile industry a microeconomic study or macroeconomic study? 

Distinguish between microeconomics and macroeconomics. Give an example of showing the difference between microeconomics and macroeconomics.

Briefly explain the following basic concepts related to NI:
 National Income (NI).

Briefly explain the following basic concepts related to NI:
Final Goods and Intermediate Goods. 

Briefly explain the following basic concepts related to NI:
Consumption Goods and Capital Goods

Briefly explain the following basic concepts related to NI:
Flow and Stock Concepts

Briefly explain the following basic concepts related to NI:
Gross Investment and Net Investment

Briefly explain the following basic concepts related to NI:
Domestic (Economic) Territory

Briefly explain the following basic concepts related to NI:
Normal Residents