Chapter Exam

Economics Unit 1: Gross Domestic Product and its Growth: An Introduction — Online MCQ Test

Q: What does the term 'GDP' stand for?

Answer: A. Gross Domestic Product — GDP stands for Gross Domestic Product, which measures the total value of goods and services produced within a country's borders.

Q: Which of the following is considered a primary sector activity?

Answer: B. Agriculture — The primary sector involves the extraction of raw materials, such as agriculture, fishing, and mining.

Q: If a country's GDP grows faster than its population, what happens to the Per Capita Income?

Answer: C. It increases — Since Per Capita Income is National Income divided by population, a faster growth in national income relative to population results in a rise in average income.

Q: Which combination correctly represents the sectors of the economy?

Answer: A. Primary, Secondary, Tertiary — The economy is formally classified into three sectors: Primary (natural resources), Secondary (manufacturing), and Tertiary (services).

SOCIAL SCIENCE · CLASS 10th · Tamil Nadu State Board

Practice Economics Unit 1: Gross Domestic Product and its Growth: An Introduction with a free chapter-wise online MCQ test for Tamil Nadu State Board CLASS 10th SOCIAL SCIENCE. This chapter covers: This chapter introduces macro-economic concepts including National Income Gross Domestic Product and sectoral contributions. Students analyze economic growth development paths and.... AI-generated questions from basic to board-exam level, with instant results and explanations.

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Economics Unit 1: Gross Domestic Product and its Growth: An Introduction — Important Questions & Answers (FAQ)

Frequently asked questions from Tamil Nadu State Board CLASS 10th SOCIAL SCIENCE — Economics Unit 1: Gross Domestic Product and its Growth: An Introduction, with answers and explanations. These are sample questions; the exam has its own separate question set.

What does the term 'GDP' stand for?

A. Gross Domestic Product ✓
B. Global Development Program
C. Gross Domestic Process
D. General Domestic Product

Answer: A. Gross Domestic Product
GDP stands for Gross Domestic Product, which measures the total value of goods and services produced within a country's borders.

Which of the following is considered a primary sector activity?

A. Banking
B. Agriculture ✓
C. Manufacturing
D. Transport

Answer: B. Agriculture
The primary sector involves the extraction of raw materials, such as agriculture, fishing, and mining.

Which of the following is included in the calculation of GDP?

A. Value of second-hand goods
B. Value of final goods and services produced within the country ✓
C. Transfer payments
D. Value of intermediate goods used for production

Answer: B. Value of final goods and services produced within the country
GDP only accounts for the market value of all final goods and services produced within a country's geographical boundary.

If a country's GDP grows faster than its population, what happens to the Per Capita Income?

A. It decreases
B. It remains constant
C. It increases ✓
D. It fluctuates unpredictably

Answer: C. It increases
Since Per Capita Income is National Income divided by population, a faster growth in national income relative to population results in a rise in average income.

Which combination correctly represents the sectors of the economy?

A. Primary, Secondary, Tertiary ✓
B. Agriculture, Industry, Public
C. Private, Public, Joint
D. Primary, Manufacturing, Service

Answer: A. Primary, Secondary, Tertiary
The economy is formally classified into three sectors: Primary (natural resources), Secondary (manufacturing), and Tertiary (services).

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