CUET Economics - Identify the correct statement in the context of Circular Flow of Income in an economy | PYQs + Solutions

CUET Economics

Macro

Easy

Household receives factor services from firms.

Household invests while firm saves.

Firms produce goods and services.

Household supplies factor services to Government.

✅ Correct Option: 3

Related questions:

28 May Shift 2

A country in the year 2000 produced 100 units of bread at price of Rs 10 per bread. GDP at current price was Rs 1,000. In 2001 the same country produced 110 units of bread at price Rs 15 per bread. What is the GDP deflator?

29 May Shift 2

Match List-I with List-II

List-I	List-II
(A) C + I + G + (X-M) + NFIA	(I) $GDP_{MP}$
(B) $GDP_{MP}$ - Depreciation	(II) Domestic Income
(C) NDP MP - IT + Subsidies	(III) $NDP_{MP}$
(D) $NDP_{MP}$ + Depreciation	(IV) $GNP_{MP}$

Choose the correct answer from the options given below:

22 May Shift 2

Let us say a firm produces Rs 100 worth of goods per year, Rs 20 is the value of intermediate goods used by it during the year and Rs 10 is the value of capital consumption. Calculate the Gross value added.

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