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Economics · 2022 · 2 marks
CBSE 2022 · Region 5 · Set 3 · Q2
(a) Distinguish between Consumption goods and Capital goods.
(a)
Distinguish between Consumption goods and Capital goods.
OR
(b)
Distinguish between net export and net factor income from abroad.
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.
OR
(b)
Net export refers to the difference between exports and imports during an accounting year.
Whereas, net factor income from abroad refers to the difference between factor income received from the rest of the world and factor income paid to the rest of the world.
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CBSE Class 12 Economics past-paper question from the 2022 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.