Class 9 Social Science II Chapter 03 National Income - Questions and Answers
Textbooks Solution for Class 9th Social Science II (English Medium) ദേശീയവരുമാനം | Text Books Solution Geography (English Medium) Geography: Chapter 03 National Income
Std 9 Social Science II Questions and Answers - Chapter 3: National Income
Std 9 Social Science II Questions and Answers - Chapter 3: National Income
National Income -Textual Questions and Answers & Model Questions
1. Explain the meaning of National Income.
Answer:
• National income indicates the economic condition of a country.
• A higher national income implies the economic progress of a
country.
• The total income received by a country in one year is its
national income.
• It is the amount earned from the production of goods and
services in a country during a year.
• Calculate the money value of goods and services produced in a country during a particular year, we get the National Income of the country for that year.
2. Identify the three sectors involved in the calculation of national
income from the given news headlines.
• Agriculture sector
• Industrial sector
• Service sector
3. What is the difference between the annual income of a family and
the national income of a country?
Answer: The amount of income earned by the members of a family through different sources during a year is the annual income of that family. The total income received by a country in one year is its national income.
4. Why do we calculate national income?
OR
What are the objectives /goals of calculating national income?
Answer:
• To help in calculating the economic growth of a country
• To compare the economic growth of different countries.
• To assess the contribution of different sectors in the economy
• To study the problems faced by the economy
• To help the government in planning and implementing different projects.
• To find out the limitations and advantages of economic activities like production, consumption, and distribution.
5. Write down the major concepts related to national income.
Answer:
• Gross NationalProduct - GNP
• Gross Domestic Product - GDP
• Net National Product - NNP
• Per capita income
6. What do you mean by Gross National Product- GNP?
Answer:
• The money value of final goods and services produced in the gross national product.
• The GNP of a country is calculated for a particular financial year.
• In India, a financial year is from 1 April to 31 March.
7. What do you mean by 'final product'?
Answer: The products that are available for consumption are called the
final product.
8. Write a short note about Gross Domestic Product - GDP?
Answer: The GDP of a country is the total money value of the final goods and services produced within the domestic territory during a financial year. The income of people working abroad and the profit of institutions and firms operating abroad will not be included while calculating the Gross Domestic Product.
9. What is termed as depreciation charges.?
Answer: The cost incurred to remedy this wear and tear is termed as
depreciation charges.
10. What is Net National Product - NNP? How will you calculate it?
Answer:
• When we deduct depreciation charges from the Gross National Product we get the Net National Product.
• The Net National Product is considered as national income.
• Net National Product = Gross National Product - Depreciation charges.
11. Write a short note about Per capita income
Answer:
• When we divide the national income by population, we get per capita income.
• It helps to know the economic position of a country and to compare it with other countries.
• Per capita income = National income
Total population
12. What are the three methods for estimating national income?
Answer:
• Product method
• Income method
• Expenditure method
13. How will you calculate the national income by-product method?
Write its merits
Answer:
• The national income is calculated by adding up the money value of goods and services produced by the primary, secondary, and tertiary sectors.
• Useful for assessing the contribution of each of these sectors towards the national income.
• To analyse which sector contributes the most to National Income.
14. Write two examples for primary, secondary, tertiary sectors
Answer:
• Primary-Agriculture and allied activities, Fishing
• Secondary-Industries, Construction
• Tertiary-Banking, Business
15. List out the four factors of production and its rewards
Answer:
• Land-Rent
• Labour-Wages
• Capital-Interest
• Organisation/Entrepreneurship-Profit
16. Write the features of the income method for estimating national income?
Answer:
• In the income method, national income is calculated based on rent, wages, interest, and profit,
• Helpful in analysing the contribution of each factor of production to the national income.
17. Write a short note about the Expenditure method.
Answer: The expenditure method is used to estimate the national income by calculating the expenditure incurred by individuals, firms and government in a particular year.
The summation of consumption expenditure, investment expenditure and government expenditure gives the total expenditure.
18. What is CSO? Write its importance
Answer:
• The Central Statistical Office (CSO) is the official agency that estimates the national income of India.
• The estimation is done mainly for the purpose of planning and development activities of the government.
• Helps to understand the nature of the employment sectors and the types of employment the people are engaged in.
19. Write difficulties/limitations in calculating the national income of India.
Answer:
• Lack of reliable statistical data
• There is a chance of double counting.
• Services of housewives are not included in national income.
• The production of goods for self-consumption is not included in the estimation of national income.
• Ignorance and illiteracy of the people create problems in collecting statistical data.
• The practical difficulty in assessing the money value of services.
• Consumers seldom maintain records of expenditure incurred by them.
20. What do you mean by' double counting'?
Answer: Calculating the money value of goods and services more than once while they pass through different stages of production.
21. Write the factors that helped in the growth of the tertiary sector.
Answer:
• The rise in the establishment of educational institutions and hospitals
• The advancement in banking, insurance, and telecommunication
• People are more willing to partake in transport and tourism.
• Development of knowledge-based industries.
22. Write a note about the importance of the knowledge sector.
Answer: The knowledge sector is the sector that efficiently uses knowledge and technology to attain economic growth. Modern technology and information & communication possibilities have grown and developed into the knowledge economy. Education, innovation, and Information & Communication Technology (ICT) form the basis of a knowledge economy. In a knowledge economy, production and consumption of intellectual capital take place. Intellectual capital is the collective knowledge of all the
people in an enterprise or a society.
23. The Kerala government gives priority to the development of the knowledge sector. Write two examples.
Answer:
• Infopark
• Technopark
24. Point out the favourable factors which can help India grow further in the knowledge sector.
Answer:
• Human resources including technical experts who are well versed in the English language.
• Wide domestic market
• Strong private sector
• Development of science and technology
25. which among the following is not an important objective in estimating national income?
i. To study the economic problems
ii. To help in formulating government plans
iii. To calculate the population of a country
iv. To analyse the contribution of different sectors
Answer: iii. To calculate the population of a country
26. Which among the following concepts of national income considers the domestic territory of a country?
i. GNP
ii. GDP
iii. Per capita income
iv. NNP
Answer: ii. GDP
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