In the two-sector model income moves between households and firms. Treat it as the base of a simple closed economy.
Step 2
Why this answer is correct
The correct answer is A. परिवार और फर्म / Households and firms. In the two-sector model income moves between households and firms. Treat it as the base of a simple closed economy.
Step 3
Exam Tip
दो-क्षेत्रीय मॉडल में आय परिवारों और फर्मों के बीच घूमती है। इसे सरल बंद अर्थव्यवस्था का आधार मानें।
Households use their income to buy goods and services produced by firms. This is connected with the product market.
Step 2
Why this answer is correct
The correct answer is B. वस्तुएं और सेवाएं / Goods and services. Households use their income to buy goods and services produced by firms. This is connected with the product market.
Step 3
Exam Tip
परिवार अपनी आय से फर्मों द्वारा बनाई गई वस्तुएं और सेवाएं खरीदते हैं। यह उत्पाद बाजार से जुड़ा होता है।
Firms pay factor income to households in return for factor services. It includes wages rent interest and profit.
Step 2
Why this answer is correct
The correct answer is B. कारक आय / Factor income. Firms pay factor income to households in return for factor services. It includes wages rent interest and profit.
Step 3
Exam Tip
फर्म परिवारों को कारक सेवाओं के बदले कारक आय देती हैं। इसमें मजदूरी किराया ब्याज और लाभ आते हैं।
Households pay consumption expenditure to firms to buy goods and services. It becomes sales revenue for firms.
Step 2
Why this answer is correct
The correct answer is C. उपभोग व्यय / Consumption expenditure. Households pay consumption expenditure to firms to buy goods and services. It becomes sales revenue for firms.
Step 3
Exam Tip
परिवार वस्तुएं और सेवाएं खरीदने के लिए फर्मों को उपभोग व्यय देते हैं। यह फर्मों की बिक्री आय बनता है।
D. वास्तविक प्रवाह के विपरीत/Opposite to real flow
Step 1
Concept
Money flow moves opposite to real flow. It shows payment of income and expenditure.
Step 2
Why this answer is correct
The correct answer is D. वास्तविक प्रवाह के विपरीत / Opposite to real flow. Money flow moves opposite to real flow. It shows payment of income and expenditure.
Step 3
Exam Tip
मुद्रा प्रवाह वास्तविक प्रवाह के विपरीत दिशा में चलता है। यह आय और व्यय के भुगतान को दिखाता है।
A. परिवारों से फर्मों को श्रम सेवा/Labour service from households to firms
Step 1
Concept
Labour service is a factor service and its movement is real flow. Money payment is not real flow.
Step 2
Why this answer is correct
The correct answer is A. परिवारों से फर्मों को श्रम सेवा / Labour service from households to firms. Labour service is a factor service and its movement is real flow. Money payment is not real flow.
Step 3
Exam Tip
श्रम सेवा कारक सेवा है और इसका प्रवाह वास्तविक प्रवाह है। मुद्रा भुगतान वास्तविक प्रवाह नहीं होता।
B. फर्मों से परिवारों को मजदूरी/Wages from firms to households
Step 1
Concept
Wages are payments made in money form. Therefore it is an example of money flow.
Step 2
Why this answer is correct
The correct answer is B. फर्मों से परिवारों को मजदूरी / Wages from firms to households. Wages are payments made in money form. Therefore it is an example of money flow.
Step 3
Exam Tip
मजदूरी मुद्रा के रूप में दिया गया भुगतान है। इसलिए यह मौद्रिक प्रवाह का उदाहरण है।
Foreign trade is not considered in a closed economy. Therefore export is not included in the two-sector closed model.
Step 2
Why this answer is correct
The correct answer is C. निर्यात / Export. Foreign trade is not considered in a closed economy. Therefore export is not included in the two-sector closed model.
Step 3
Exam Tip
बंद अर्थव्यवस्था में विदेशी व्यापार नहीं माना जाता। इसलिए निर्यात दो-क्षेत्रीय बंद मॉडल में शामिल नहीं होता।
D. क्योंकि सरकार शामिल नहीं होती/Because government is not included
Step 1
Concept
Government is excluded in the two-sector model. Therefore taxes and government expenditure are not shown.
Step 2
Why this answer is correct
The correct answer is D. क्योंकि सरकार शामिल नहीं होती / Because government is not included. Government is excluded in the two-sector model. Therefore taxes and government expenditure are not shown.
Step 3
Exam Tip
दो-क्षेत्रीय मॉडल में सरकार को बाहर रखा जाता है। इसलिए कर और सरकारी व्यय नहीं दिखाए जाते।
A. परिवारों का उपभोग व्यय/Consumption expenditure of households
Step 1
Concept
When households buy goods and services firms receive sales revenue. This payment is called consumption expenditure.
Step 2
Why this answer is correct
The correct answer is A. परिवारों का उपभोग व्यय / Consumption expenditure of households. When households buy goods and services firms receive sales revenue. This payment is called consumption expenditure.
Step 3
Exam Tip
परिवार जब वस्तुएं और सेवाएं खरीदते हैं तो फर्मों को बिक्री आय मिलती है। इस भुगतान को उपभोग व्यय कहा जाता है।
Firms produce goods and services to satisfy household demand. This is linked to the product market.
Step 2
Why this answer is correct
The correct answer is B. परिवारों की मांग / Demand of households. Firms produce goods and services to satisfy household demand. This is linked to the product market.
Step 3
Exam Tip
फर्म परिवारों की मांग पूरी करने के लिए वस्तुएं और सेवाएं बनाती हैं। यह उत्पाद बाजार से जुड़ा है।
Firms need factor services such as land labour capital and enterprise for production. These are received from households.
Step 2
Why this answer is correct
The correct answer is C. कारक सेवाएं / Factor services. Firms need factor services such as land labour capital and enterprise for production. These are received from households.
Step 3
Exam Tip
फर्मों को उत्पादन के लिए भूमि श्रम पूंजी और उद्यम जैसी कारक सेवाएं चाहिए। ये परिवारों से मिलती हैं।
In the simple model household income is spent on consumption of goods and services. This keeps the income flow continuing.
Step 2
Why this answer is correct
The correct answer is D. उपभोग / Consumption. In the simple model household income is spent on consumption of goods and services. This keeps the income flow continuing.
Step 3
Exam Tip
सरल मॉडल में परिवारों की आय वस्तुओं और सेवाओं के उपभोग में खर्च होती है। इससे आय चक्र जारी रहता है।
A. आय फर्मों को वापस चली जाती है/Income returns to firms
Step 1
Concept
When households spend all income it becomes firms receipts. This completes the simple flow.
Step 2
Why this answer is correct
The correct answer is A. आय फर्मों को वापस चली जाती है / Income returns to firms. When households spend all income it becomes firms receipts. This completes the simple flow.
Step 3
Exam Tip
जब परिवार पूरी आय खर्च करते हैं तो वह फर्मों की प्राप्ति बन जाती है। इससे सरल चक्र पूरा होता है।
D. आय प्रवाह संतुलित रह सकता है/Income flow can remain balanced
Step 1
Concept
When saving and investment are equal leakage and injection are balanced. This can keep income flow stable.
Step 2
Why this answer is correct
The correct answer is D. आय प्रवाह संतुलित रह सकता है / Income flow can remain balanced. When saving and investment are equal leakage and injection are balanced. This can keep income flow stable.
Step 3
Exam Tip
जब बचत और निवेश बराबर होते हैं तो रिसाव और इंजेक्शन संतुलित हो जाते हैं। इससे आय प्रवाह स्थिर रह सकता है।
Household saving can go to the financial market. Firms can receive funds from there for investment.
Step 2
Why this answer is correct
The correct answer is A. वित्तीय बाजार / Financial market. Household saving can go to the financial market. Firms can receive funds from there for investment.
Step 3
Exam Tip
परिवारों की बचत वित्तीय बाजार में जा सकती है। वहीं से फर्म निवेश के लिए धन प्राप्त कर सकती हैं।
Firms can receive funds for investment from the financial market. It connects saving with investment.
Step 2
Why this answer is correct
The correct answer is B. वित्तीय बाजार / Financial market. Firms can receive funds for investment from the financial market. It connects saving with investment.
Step 3
Exam Tip
फर्म वित्तीय बाजार से निवेश के लिए धन प्राप्त कर सकती हैं। यह बचत को निवेश से जोड़ता है।
C. विदेशी क्षेत्र से लेन-देन नहीं होता/There are no transactions with foreign sector
Step 1
Concept
A closed economy assumes no transactions with the foreign sector. Therefore both imports and exports are absent.
Step 2
Why this answer is correct
The correct answer is C. विदेशी क्षेत्र से लेन-देन नहीं होता / There are no transactions with foreign sector. A closed economy assumes no transactions with the foreign sector. Therefore both imports and exports are absent.
Step 3
Exam Tip
बंद अर्थव्यवस्था में विदेशी क्षेत्र से कोई लेन-देन नहीं माना जाता। इसलिए आयात और निर्यात दोनों अनुपस्थित होते हैं।
D. मजदूरी किराया ब्याज और लाभ/Wages rent interest and profit
Step 1
Concept
Wages rent interest and profit are factor incomes. They are received in return for factor services.
Step 2
Why this answer is correct
The correct answer is D. मजदूरी किराया ब्याज और लाभ / Wages rent interest and profit. Wages rent interest and profit are factor incomes. They are received in return for factor services.
Step 3
Exam Tip
मजदूरी किराया ब्याज और लाभ कारक आय हैं। ये कारक सेवाओं के बदले मिलते हैं।
Factor payments made by firms become income of households. This is an important link in the income flow.
Step 2
Why this answer is correct
The correct answer is B. परिवारों की / Households. Factor payments made by firms become income of households. This is an important link in the income flow.
Step 3
Exam Tip
फर्मों द्वारा दिए गए कारक भुगतान परिवारों की आय बनते हैं। यह आय प्रवाह की महत्वपूर्ण कड़ी है।
A rise in consumption demand can increase sales of firms. This is a direct effect linked to the product market.
Step 2
Why this answer is correct
The correct answer is C. फर्मों की बिक्री / Sales of firms. A rise in consumption demand can increase sales of firms. This is a direct effect linked to the product market.
Step 3
Exam Tip
उपभोग मांग बढ़ने से फर्मों की बिक्री बढ़ सकती है। यह उत्पाद बाजार से जुड़ा सीधा प्रभाव है।
For more production firms need more factor services. Therefore demand rises in the factor market.
Step 2
Why this answer is correct
The correct answer is D. कारक सेवाओं की / Factor services. For more production firms need more factor services. Therefore demand rises in the factor market.
Step 3
Exam Tip
अधिक उत्पादन के लिए फर्मों को अधिक कारक सेवाओं की जरूरत होती है। इसलिए कारक बाजार में मांग बढ़ती है।
A. क्योंकि वे वस्तुएं और सेवाएं खरीदते हैं/Because they buy goods and services
Step 1
Concept
Households consume goods and services using their income. Therefore they are called consumers.
Step 2
Why this answer is correct
The correct answer is A. क्योंकि वे वस्तुएं और सेवाएं खरीदते हैं / Because they buy goods and services. Households consume goods and services using their income. Therefore they are called consumers.
Step 3
Exam Tip
परिवार अपनी आय से वस्तुओं और सेवाओं का उपभोग करते हैं। इसलिए उन्हें उपभोक्ता कहा जाता है।
A. क्योंकि वे वस्तुएं और सेवाएं बनाती हैं/Because they produce goods and services
Step 1
Concept
Firms use factor services to produce goods and services. Therefore they are producing units.
Step 2
Why this answer is correct
The correct answer is A. क्योंकि वे वस्तुएं और सेवाएं बनाती हैं / Because they produce goods and services. Firms use factor services to produce goods and services. Therefore they are producing units.
Step 3
Exam Tip
फर्म कारक सेवाओं का उपयोग करके वस्तुएं और सेवाएं बनाती हैं। इसलिए वे उत्पादक इकाइयां हैं।
B. श्रम परिवार से फर्म को जाता है/Labour goes from household to firm
Step 1
Concept
Households provide factor services such as labour to firms. This is a part of real flow.
Step 2
Why this answer is correct
The correct answer is B. श्रम परिवार से फर्म को जाता है / Labour goes from household to firm. Households provide factor services such as labour to firms. This is a part of real flow.
Step 3
Exam Tip
परिवार श्रम जैसी कारक सेवाएं फर्मों को देते हैं। यह वास्तविक प्रवाह का भाग है।
Government is not included in the two-sector model. Therefore tax collection by government is not a part of this model.
Step 2
Why this answer is correct
The correct answer is C. सरकार कर वसूलती है / Government collects taxes. Government is not included in the two-sector model. Therefore tax collection by government is not a part of this model.
Step 3
Exam Tip
दो-क्षेत्रीय मॉडल में सरकार शामिल नहीं होती। इसलिए सरकार द्वारा कर वसूली इस मॉडल का भाग नहीं है।
A. कारक सेवाओं की आपूर्ति/Supply of factor services
Step 1
Concept
Households earn income by supplying factor services. Therefore supply of factor services is the base of their earnings.
Step 2
Why this answer is correct
The correct answer is A. कारक सेवाओं की आपूर्ति / Supply of factor services. Households earn income by supplying factor services. Therefore supply of factor services is the base of their earnings.
Step 3
Exam Tip
परिवार कारक सेवाएं देकर आय प्राप्त करते हैं। इसलिए उनकी कमाई का आधार कारक सेवाओं की आपूर्ति है।
Firms produce goods and services and sell them to households. This is a part of real flow.
Step 2
Why this answer is correct
The correct answer is B. फर्म से परिवार / Firms to households. Firms produce goods and services and sell them to households. This is a part of real flow.
Step 3
Exam Tip
फर्म वस्तुओं और सेवाओं का उत्पादन करके परिवारों को बेचती हैं। यह वास्तविक प्रवाह का भाग है।
D. परिवार और फर्म की भूमिका/Roles of households and firms
Step 1
Concept
Only households and firms are the main sectors in this model. Therefore identifying their roles first is useful.
Step 2
Why this answer is correct
The correct answer is D. परिवार और फर्म की भूमिका / Roles of households and firms. Only households and firms are the main sectors in this model. Therefore identifying their roles first is useful.
Step 3
Exam Tip
इस मॉडल में केवल परिवार और फर्म मुख्य क्षेत्र होते हैं। इसलिए पहले उनकी भूमिका पहचानना उपयोगी है।
A. आय और व्यय का चक्रीय संबंध/Circular relation of income and expenditure
Step 1
Concept
Income and expenditure are connected with each other. This circular relation helps in understanding national income.
Step 2
Why this answer is correct
The correct answer is A. आय और व्यय का चक्रीय संबंध / Circular relation of income and expenditure. Income and expenditure are connected with each other. This circular relation helps in understanding national income.
Step 3
Exam Tip
आय और व्यय एक-दूसरे से जुड़े होते हैं। यही चक्रीय संबंध राष्ट्रीय आय समझने में मदद करता है।
Wage payment is made in money so it is money flow. Real flow includes goods services and factor services.
Step 2
Why this answer is correct
The correct answer is D. मजदूरी भुगतान / Wage payment. Wage payment is made in money so it is money flow. Real flow includes goods services and factor services.
Step 3
Exam Tip
मजदूरी भुगतान मुद्रा में होता है इसलिए यह मौद्रिक प्रवाह है। वास्तविक प्रवाह में वस्तुएं सेवाएं और कारक सेवाएं आती हैं।
Consumption expenditure goes from households to firms in money form. Therefore it is money flow.
Step 2
Why this answer is correct
The correct answer is A. उपभोग व्यय / Consumption expenditure. Consumption expenditure goes from households to firms in money form. Therefore it is money flow.
Step 3
Exam Tip
उपभोग व्यय परिवारों से फर्मों को मुद्रा में जाता है। इसलिए यह मौद्रिक प्रवाह है।
