CBSE Class 12 Economics Income Method Worksheet

CBSE Class 12 Economics Income Method. CBSE issues sample papers every year for students for class 12 board exams. Students should solve the CBSE issued sample papers to understand the pattern of the question paper which will come in class 12 board exams this year. The sample papers have been provided with marking scheme. It’s always recommended to practice as many CBSE sample papers as possible before the board examinations. Sample papers should be always practiced in examination condition at home or school and the student should show the answers to teachers for checking or compare with the answers provided. Students can download the sample papers in pdf format free and score better marks in examinations. Refer to other links too for latest sample papers.

I. Answer in one sentence only

1. How does income method consider domestic product?

2. Define mixed income of self employed.

3. How is Net factor income paid to abroad considered in national income calculation?

4. Show how is Net Domestic Product at factor cost converted into Gross National Product at market prices.

5. What are transfers?

6. Why is capital gain not included in national income?

II. Answer in around 60 words.

1. Distinguish between transfer payment and factor payment.

2. How is profit considered in national income account?

3. What are the components of domestic factor income?

4. Define compensation of employees. What are its components?

5. What are the precautions to be considered while calculating national income through income method? Explain

III. Answer in around 100 words.

1. What are the different steps involved in estimating national income through value added method.

2. How are the following treated in the estimation of national income? Explain with reason.

a. Imputed value of rent of owner occupied building.

b. Interest on National debt

c. Commission paid to a broker dealing in second hand goods

d. Unemployment allowances received by household from government.