Measurement Of National Income
ICSE · Class 12 · Economics
Practice quiz for Measurement Of National Income — ICSE Class 12 Economics. MCQs and questions with answers to test your preparation.
Interactive on Super Tutor
Studying Measurement Of National Income? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for practice quiz and more.
1,000+ Class 12 students started this chapter today
Quick Quiz: Measurement Of National Income
0/4Tap an answer to check it instantly. No sign-up needed for these 4.
A hypothetical economy has two firms. Firm A has sales of ₹300 lakh, purchases from Firm B of ₹100 lakh, imports of raw material of ₹50 lakh, opening stock of ₹25 lakh, and closing stock of ₹40 lakh. What is the value added by Firm A?
Firm B has sales of ₹250 lakh, purchases from Firm A of ₹80 lakh, imports of raw material of ₹20 lakh, opening stock of ₹10 lakh, and closing stock of ₹15 lakh. What is the value added by Firm B?
An economy has only two firms. Firm A has value added of ₹55 lakh, and Firm B has value added of ₹130 lakh. Net indirect taxes paid by both firms are ₹30 lakh. What is GDP at factor cost?
A firm has value of output of ₹2,700 thousand, intermediate consumption of ₹560 thousand, depreciation of ₹100 thousand, and net indirect taxes of ₹60 thousand. What is its net value added at factor cost?
Sample Questions
A firm has sales of ₹2,000 thousand, exports of ₹500 thousand, and change in stock of ₹200 thousand. Its purchase of raw materials is ₹560 thousand and its depreciation is ₹100 thousand. What is its net value added at factor cost?
Show answer
₹1,980 thousand
Value of output = domestic sales + exports + change in stock = 2,000 + 500 + 200 = ₹2,700 thousand. Gross value added at market price = 2,700 - 560 = ₹2,140 thousand. Net value added at factor cost = 2,140 - 100 - 60 = ₹1,980 thousand.
An economy has compensation of employees of ₹300 crore, rent of ₹120 crore, interest of ₹15 crore, profit of ₹45 crore, mixed income of ₹360 crore, and net factor income from abroad of ₹30 crore. What is national income?
Show answer
₹870 crore
Domestic income = 300 + 120 + 15 + 45 + 360 = ₹840 crore. National income = domestic income + NFIA = 840 + 30 = ₹870 crore.
A country has GDP at market price of ₹1,240 crore, depreciation of ₹50 crore, net indirect taxes of ₹30 crore, and net factor income from abroad of ₹(-10) crore. What is national income?
Show answer
₹1,150 crore
National income = GDP at market price - depreciation - net indirect taxes + NFIA = 1,240 - 50 - 30 - 10 = ₹1,150 crore.
Private final consumption expenditure is ₹700 crore, government final consumption expenditure is ₹250 crore, gross domestic capital formation is ₹220 crore, net exports are ₹70 crore, depreciation is ₹50 crore, net indirect taxes are ₹30 crore, and net factor income from abroad is ₹(-10) crore. What
Show answer
₹1,150 crore
GDP at market price = 700 + 250 + 220 + 70 = ₹1,240 crore. National income = 1,240 - 50 - 30 - 10 = ₹1,150 crore.
+62 more questions available
Practice AllFrequently Asked Questions
What are the important topics in Measurement Of National Income for ICSE Class 12 Economics?
How to score full marks in Measurement Of National Income — ICSE Class 12 Economics?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Measurement Of National Income
Important Questions
Practice with board exam-style questions
Revision Notes
Key points for last-minute revision
Formula Sheet
All formulas in one place
Chapter Summary
Understand the chapter at a glance
Concept Maps
See how topics connect visually
Study Plan
Step-by-step plan to ace this chapter
Flashcards
Quick-fire cards for active recall
Syllabus
What topics to cover
NCERT Solutions
Every textbook question solved step by step
For serious students
Get the full Measurement Of National Income chapter — for free.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 12 Economics.