1 View

Question : Which amongst the following statments are true?

  1. Intermediate goods have direct demand while final goods have derived demand.
  2. National Income is always more than Domestic income.
  3. Final goods includes only those goods which are consumed by the households or purchased by the producers for investment purposes.

Option 1: 1&2

Option 2: 2&3

Option 3: Only 3

Option 4: Only 2


Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Only 3


Solution : Intermediate goods have a derived demand as their demand depends upon demand for the final goods. The final goods have a direct demand as you satisfy the ones directly.
National income can also be less than domestic income the net factor income from abroad is negative. It can always more than the domestic income only when net factor income from abroad is positive.
Final goods include those goods which are either consumed by the households or purchase by the producers for investment purpose.
Hence, Option C is correct.

Related Questions

UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
SLAT 2025 - The Symbiosis Law...
Apply
Conducted by Symbiosis International (Deemed University) | Ranked #5 in Law by NIRF | Ranked #2 among best Pvt Universities by QS World Rankings
Jindal Global Law School Admi...
Apply
Ranked #1 Law School in India & South Asia by QS- World University Rankings | Merit cum means scholarships
Symbiosis Law School Pune Adm...
Apply
NAAC A++ Accredited | Ranked #5 by NIRF
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC
ISBR Business School PGDM Adm...
Apply
180+ Companies | Highest CTC 15 LPA | Average CTC 7.5 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business Scho...
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books