Question : Which of the following are true?

1. Domestic territory is also known as economy territory.
2. Printer purchased by lawyer is an intermediate good.

Option 1: Both are true.
 

Option 2: Both are false.
 

Option 3: Statement 1 is true and statement 2 is false.
 

Option 4: Statement 1 is false and statement 2 is true.

Question : Statement 1: Gross Domestic Product (GDP) is a measure of the total output of final goods and services produced within a country's borders.

Statement 2: GDP excludes the value of intermediate goods and services used in production.

Option 1: Statement 1 is true, and Statement 2 is false.

Option 2: Statement 1 is false, and Statement 2 is true.

Option 3: Both Statement 1 and Statement 2 are true.

Option 4: Both Statement 1 and Statement 2 are false.

Question : Which of the following statement are true as per the mechnaism given in the picture.

1. Cotton and thread are final goods whereas cloth is an intermediate good.
2. As long as, goods are under production boundry, they are intermediate goods.
3. Goods outside production boundry are consumer goods.
4. Final goods and consumer goods are different from eachother. 

Option 1: 1,2&3

Option 2: 3&4

Option 3: 1&4

Option 4: 2&3

Question : Assertion: Gross Domestic Product (GDP) measures the value of all final goods and services produced within the domestic territory of a country during a specific period.

Reason: GDP includes the value of intermediate goods and services used in the production process.

Option 1: Both Assertion and Reason are true, and the Reason is the correct explanation of the Assertion.

Option 2: Both Assertion and Reason are true, but the Reason is not the correct explanation of the Assertion.

Option 3: Assertion is true, but the Reason is false.

Option 4: Assertion is false, but the Reason is true.

Question : The products that directly satisfy human demands are referred to as:

Option 1: Producer goods

Option 2: Intermediate goods

Option 3: Capital goods 

Option 4: Consumer goods