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AP Intermediate 2nd Year Indian Economy & Economic Development — practice questions — page 2

Explore 37 free Indian Economy & Economic Development questions in AP Intermediate 2nd Year Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Indian Economy & Economic Development questions and exercises with answers

Showing questions 31–37 of 37.

Transport, storage, banking and trade support production without making goods. They form the:Read the answer and worked solution →The tertiary sector is also called the:Read the answer and worked solution →Wheat sold to a mill and flour sold to a biscuit maker are examples of:Read the answer and worked solution →Only final goods are counted in GDP because the value of intermediate goods is:Read the answer and worked solution →The value of all final goods and services produced within a country in a year is its:Read the answer and worked solution →At the initial stages of development in now developed countries, the most important sector was:Read the answer and worked solution →In the past 100 years, developed countries have shifted from the secondary to the:Read the answer and worked solution →

Worked practice questions

Transport, storage, banking and trade support production without making goods. They form the:

  1. Tertiary sector
  2. Primary sector
  3. Secondary sector
  4. Agricultural sector
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Correct answer: A. Tertiary sector

1. These activities aid the other two sectors. 2. They produce services, not goods. 3. They form the tertiary sector. _Source: syllabus Economics, Understanding Economic Development, Chapter 2, Sectors of the Indian Economy._

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The tertiary sector is also called the:

  1. Mining sector
  2. Service sector
  3. Farm sector
  4. Factory sector
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Correct answer: B. Service sector

1. Its output is services rather than goods. 2. Teachers, doctors and barbers are in it too. 3. It is the service sector. _Source: syllabus Economics, Understanding Economic Development, Chapter 2, Sectors of the Indian Economy._

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Wheat sold to a mill and flour sold to a biscuit maker are examples of:

  1. Public sector goods
  2. Free natural goods
  3. Intermediate goods
  4. Final consumer goods
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Correct answer: C. Intermediate goods

1. They are used up in making biscuits. 2. Only the biscuits reach the consumer. 3. Wheat and flour are intermediate goods. _Source: syllabus Economics, Understanding Economic Development, Chapter 2, Sectors of the Indian Economy._

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