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Economics · 2022 · 2 marks
CBSE 2022 · Region 4 · Set 1 · Q1
(a) Distinguish between Consumption goods and Capital goods.
(a)
Distinguish between Consumption goods and Capital goods.
OR
(b)
Giving valid reasons, classify the following into stock and flow variables :
(i)
Population of India as on 31st March, $\displaystyle 2021$
(ii)
Domestic Income of Indian Economy during the fiscal year $\displaystyle 2020$ – $\displaystyle 21$
Marking-scheme solution
(a)
Consumption goods refer to those goods which directly satisfy the wants of the end user (consumer).
Whereas, Capital goods are those final goods which help in production of other goods and services.
(b)(i) Population of India as on 31st March, $\displaystyle 2021$ is a stock variable as it is measured at a particular point of time.
(ii) Domestic Income of Indian Economy during the fiscal year $\displaystyle 2020$-$\displaystyle 21$ is a flow variable as it is measured over a period of time.
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