Question
Is GDP a correct index of welfare of a country? State its three limitations.
Solution
Solution not provided.
Solution not provided.
Distinguish between microeconomics and macroeconomics.
Give an example of showing the difference between microeconomics and macroeconomics.
Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.
Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth.
Mock Test Series
