Question : Which of the following are true?

Domestic territory is also known as economy territory.

Printer purchased by lawyer is an intermediate good.

Option 1: Both are true.

Option 2: Both are false.

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

Question

Question : Which of the following are true?

Domestic territory is also known as economy territory.
Printer purchased by lawyer is an intermediate good.

Option 1: Both are true.

Option 2: Both are false.

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

Team Careers360 · Accepted Answer

Correct Answer: Statement 1 is true and statement 2 is false.

Solution : Domestic territory is also known as economic territory.
Printer purchase via lawyer is the final product because it is purchased for investment.
Hence, Option C is correct.

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Question : Which of the following are true?

Purchase of machines by a producer is an intermediate good.

Unexpected obsolescence is a component of depreciation.

Question : Statement 1: Gross Domestic Product (GDP) is a measure of the total output of final goods and services produced within a country's borders.

Statement 2: GDP excludes the value of intermediate goods and services used in production.

Question : Which of the following statement are true as per the mechnaism given in the picture.

Cotton and thread are final

Question : Assertion: Gross Domestic Product (GDP) measures the value of all final goods and services produced within the domestic territory of a country during a specific period.

Reason: GDP includes the value of intermediate goods and services used in the production process.

Question : In an economy, the value added at different stages of production is as follows (in INR):

Stage 1: INR 800,000

Stage 2: INR 600,000

Stage 3: INR 400,000

If the total value of intermediate consumption is INR 300,000, what is the value of final