National Income Estimation Methods Quiz

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Questions and Answers

Match the sectors of an economy with their order in the classification:

Primary = First Secondary = Second Tertiary = Third

Match the units of an economy with their corresponding viewpoints:

Production units = Production viewpoint Individuals and households = Income viewpoint Units used for consumption = Expenditure viewpoint

Match the methods of estimating national income with the corresponding units of an economy:

Value-added method = Production units Income method = Individuals and households Expenditure method = Units used for consumption

Match the following terms with their definitions:

<p>National income = Total money value of goods and services produced by a country in a particular period Primary sector = First sector in the classification of an economy's production units Income method = Method of estimating national income based on the combination of individuals and households</p> Signup and view all the answers

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