Goods like food and clothing, and services like recreation that are consumed when purchased by their ultimate consumers are called consumption goods or consumer goods. This also includes services which are consumed but for convenience we may refer to them are as consumer goods.
There are other goods that are of durable character which are used in the production process. These are tools, implements and machines. While they make production of other commodities feasible, they themselves don't get transformed in the production process. They are also final goods yet they are not final goods to be ultimately consumed. They are the crucial backbone of any production process, in aiding and enabling the production to take place. These goods form a part of capital, one of the crucial factors of production in which a productive enterprise has invested, and they continue to enable the production process to go on for continuous cycles of production. There are capital goods and they gradually undergo wear and tear and thus are repaired or gradually replaced over time. The stock of capital that an economy possesses is thus preserved, maintained and renewed partially or wholly over time.
Match List-I with List-II:
List-I
List-II
(A) NDPMP
(I) C+I+G+X-M
(B) NNPFC
(II) GDPMP-NIT
(C) GDPFC
(III) GDPMP- Depreciation
(D) GDPMP
(IV) NNPMP- Net Indirect taxes
(A)-(III), (B)-(IV), (C)-(II), (D)-(I)
The correct matching is:
- **(A) NDPMP → (III) GDPMP - Depreciation** – Net Domestic Product (NDP) is obtained by subtracting depreciation from Gross Domestic Product (GDP).
- **(B) NNPFC → (IV) NNPMP - Net Indirect Taxes** – Net National Product at Factor Cost (NNPFC) is derived by subtracting net indirect taxes from NNPMP.
- **(C) GDPFC → (II) GDPMP - NIT** – Gross Domestic Product at Factor Cost (GDPFC) is obtained by subtracting Net Indirect Taxes (NIT) from GDPMP.
- **(D) GDPMP → (I) C+I+G+X-M** – GDP at Market Price (GDPMP) is calculated using the expenditure approach formula: **GDP = Consumption + Investment + Government Spending + Net Exports (Exports - Imports).**
Thus, the correct answer is **(A)-(III), (B)-(IV), (C)-(II), (D)-(I) (d)**.
Match List-I with List-II:
| List-I | List-II |
|---|---|
| (A) ΔC/ΔY | (I) APS |
| (B) S/Y | (II) MPS |
| (C) ΔS/ΔY | (III) APC |
| (D) C/Y | (IV) MPC |
Choose the correct answer:
Central Pollution Control Board (CPCB) has identified ______ categories of large and medium industries as polluting industries.
Match List-I with List-II:
| List-I | List-II |
|---|---|
| (A) Ex-ante saving | (I) Actual Saving |
| (B) Ex-post consumption | (II) Planned Saving |
| (C) Ex-ante consumption | (III) Planned Consumption |
| (D) Ex-post saving | (IV) Actual Consumption |
Identify the Stock variable/variables:
A. Income
B. Output
C. Capital
D. Profits
E. Money Supply
A firm buys a machine for ₹55 lakhs. The expected life of the machine is ten years. The annual depreciation of the machine is: