Practicing Success
Which of the following statements is true? Statement 1- National products includes the production activity of the production units located in the economic territory. Statement 2- Domestic product includes the production activity of the residents irrespective of whether performed within the economic territory or outside it.
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Only statement 1 is true Only statement 2 is true Both statement 1 and statement 2 are true Neither statement 1 nor statement 2 is true |
Neither statement 1 nor statement 2 is true |
Domestic products includes the production activity of the production units located in the economic territory. National product includes the production activity of the residents irrespective of whether performed within the economic territory or outside it. Domestic territory includes:
In economics, in order to become a normal resident of a country, the following 2 conditions needs to fulfilled:
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