NextQ49
(i) On the basis of the data given below, estimate the value of Domestic Income (NDP_FC) (ii) Differentiate between factor income and transfer income. (i) "In a two sector economy, National Income is always less than Domestic Income." Defend or refute the given statement with valid reasons. (ii) Gauhar, has recently completed her fashion designing studies and started a boutique. To produce dresses for sale, she purchased various materials, including a sewing machine, fabric, buttons and thread. These items are essential for producing the dresses. Classify the material purchased by Gauhar as Final or Intermediate goods, giving valid reasons in support of the classifications.
Question 48
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