4 Questions
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:
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
Test your knowledge of national income estimation methods with this quiz. Learn about the production, income, and expenditure viewpoints, and how they contribute to calculating a country's total money value of goods and services produced in a given time period.
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