Economics & Consumer Education — Important Questions
Telangana Open School (TOSS) · Class 12 · Community Science (Home Science)
44 important questions from Economics & Consumer Education for Telangana Open School (TOSS) Class 12 Community Science, with answers.
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Important Questions from Economics & Consumer Education
Which of the following is a function of money?
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It acts as a medium of exchange
Money serves as a medium of exchange, allowing people to buy goods and services easily without barter.
Which of the following is an example of indirect income?
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Rent-free accommodation
Indirect income includes facilities like rent-free housing or free medical care that save money which would otherwise be spent.
What is a budget?
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An estimate of future income and expenditure
A budget is a plan that estimates future income and how it will be spent over a specific period.
Which of the following is part of money income?
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Wages or salary
Money income includes all cash earnings like wages, salary, rent, interest, and bonuses.
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