Question : Which of the following is an example of an intermediate good?
Option 1: Bread purchased by a consumer
Option 2: Steel used in the construction of a building
Option 3: A laptop sold to a student
Option 4: A car purchased by a family
Correct Answer: Steel used in the construction of a building
Solution : The correct answer is (b) Steel used in the construction of a building.
An intermediate good is a product that is used as an input or raw material in the production of another good or service. It is not intended for final consumption or directly sold to end consumers.
Steel used in the construction of a building is an example of an intermediate good. Steel is a material that is used in the construction industry as a primary input for building structures. It is not the final product itself but is used in the production process to create the final building structure.
Question : Which of the following is a revenue expenditure?
Option 1: Expenditure on subsidies
Option 2: Defence capital equipment purchased from Germany
Option 3: Expenditure on construction of school building
Option 4: Amount borrowed from USA repaired
Question : What is the significance of the iron and steel industry?
Option 1: It is used in the production of textiles
Option 2: It is a major component in construction and manufacturing
Option 3: It is primarily used in agriculture
Option 4: It has no significant industrial use
Question : Fill in the blanks- Construction of school building is a _________ expenditure of the government.
Option 1: Capital
Option 2: Revenue
Option 3: Both A and B
Option 4: Neither A nor B.
Question : In early urban centers, what was a common method used for urban planning?
Option 1: Random placement of buildings
Option 2: Construction along natural landforms
Option 3: Grid pattern street layout
Option 4: Building around central religious structures
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